Pemex in Talks With Up to 10 Banks to Find Refinery Partners


pemPetroleos Mexicanos said it is in talks with as many as 10 investment banks including Goldman Sachs Group Inc., Bank of America Corp. and Credit Agricole SA to help the ailing oil producer find partners to improve its inefficient refining process.

Pemex, whose refineries lose more than $5 billion a year, has requested proposals from several investment banks, Jose Antonio Gonzalez Anaya, chief executive officer, said in an interview on the sidelines of an event at the Council on Foreign Relations in New York. The state-owned company, which hasn’t yet started to hear the proposals, expects to choose a bank and begin the search for refining partners by the end of the year or early 2017, he said.

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