Head of Brazil's Petrobras will visit Mexico to discuss partnership between Pemex and Petrobras

According to Mexican President Claudia Sheinbaum, the head of Brazil's?oil firm Petrobras will?visit Mexico next April to discuss an upcoming partnership with Mexico’s state-run oil company Pemex. Sheinbaum said during her morning press conference that she had not decided yet on the recent offer from Brazilian President Luiz inacio Lula to form alliances between the two state run oil companies.

Sheinbaum stated that "Petrobras has become highly specialized with deepwater operations. He [President Lula] suggested that we form a joint venture with Pemex. But we haven't made a decision yet."

Chambriard will meet with Mexico's energy Minister and the head of Pemex. Sheinbaum said, "I will be meeting her as well to see what exactly is in her proposal."

Petrobras didn't immediately reply to a comment request.

Sheinbaum stated that Mexico is also seeking partnerships in the production of ethanol from sugarcane.

Pemex has no experience in deep-water operations, but it does have two partnerships with private companies. Mexican firm plans to develop new deepwater projects to help it increase hydrocarbon production over the next few years. (Reporting and editing by Inigo Alexandra, Natalia Siniawski and Raul Cortes)

(source: Reuters)