Pemex CEO Says Lack of Repsol Collaboration Is ‘Ridiculous’
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Petroleos Mexicanos’s chief executive officer said it’s “ridiculous” 30 years of partnership with Repsol YPF SA hasn’t paid off, and the oil producer is undaunted by hostility toward its increased stake in the Spanish company.
Pemex, as the state oil company is known, holds deep-water deposits and needs help in accessing them, while Repsol has the expertise and not the reserves, Juan Jose Suarez Coppel told reporters in his Mexico City office yesterday. Repsol could benefit from the companies’ collaboration, the CEO said.