Pemex taps US$2bn Korean credit line
Mexican national oil company Pemex has signed an MOU with the Export-Import Bank of Korea (Korea Eximbank) for a US$2bn credit line, according to a press release from the former.
Pemex CEO Emilio Lozoya Austin signed the deal with Yong Hwan Kim, president of Korea Eximbank, while in Daegu, Korea for the 2013 World Energy Congress.
Credit will be extended to Pemex as well as the NOC's service providers, the press release said.
The deal was signed the day after Pemex declared void the tender for the US$2bn Los Ramones phase II natural gas pipeline and announced it would be developing the project on its own.
In June, Pemex inked a US$1bn credit deal with the Export-Import Bank of China.
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