Pemex Primes Chinese Pumps

Echoing the sentiments of many Latin corporates attending the LatinFinance Latin America China Investors Forum in Beijing this week, Pemex is optimistic about increased Chinese involvement in the region, specifically in the oil sector. “We can certainly gain expertise from the Chinese oil companies,” Mauricio Alazraki, managing director of finance at Pemex, tells LatinFinance. “I think they could be very good procurement contractors for us. Working with those companies we could have some interesting financing packages, as we do with other companies in other parts of the world,” he adds. According to Alazraki, such collaboration with Chinese entities could bring financing from the China Development Bank and the China Exim Bank, possibly even a funding package similar to the $10bn Petrobras got from the CDB earlier this year. “In terms of international bonds, we would of course love to have an investor base in mainland China,” he adds, noting a presence already from Singapore and Hong Kong. As for the possibility of competition from Chinese oil companies, Alazraki does not view them as competitors. “I think there is room for cooperation in Mexico, not only with Chinese companies but with all international companies,” he says.