Pemex Mulls Foreign Projects

Mexican state-owned oil company Petroleos Mexicanos (Pemex) is considering opportunities to expand operations outside Mexico. Energy Minister Fernando Elizondo said the company is studying gas exploration projects in Peru and Bolivia and is looking to build a refinery in Central America, possibly in Guatemala. Pemex is benefiting from high oil prices and voracious demand from the US, but will likely have to issue more debt as it looks to expand production.