MEXICO CITY, May 6 (Reuters) - Two members of the board of Mexico’s national oil company Pemex said on Tuesday the company has yet to make a decision about whether or not to sell its 9.3 percent stake in Spain’s Repsol.
Pemex, which is Repsol’s third-biggest stakeholder, has had an increasingly confrontational relationship with the Spanish oil major, due in large part to disagreements over how Repsol handled the loss of a unit in Argentina and the degree of influence it has allowed its Mexican partner.
Pemex is mulling a sale and has hired Credit Agricole to handle the details, according to a published report on Monday in Spanish online newspaper El Confidencial, which cited unnamed financial sources.
“This is a decision for the Pemex board of directors,” Miguel Messmacher, Mexico’s deputy finance minister and a member of Pemex’s board of directors, told reporters.
“It is a subject that has not even reached the board,” added Lourdes Melgar, who is Mexico’s deputy energy minister and also a Pemex board member.
The two declined to comment further on the matter.
At current market prices, the Pemex stake in Repsol is worth 2.3 billion euros ($3.2 billion).
$1 = 0.7177 Euros Reporting by David Alire Garcia and Ana Isabel Martinez; Editing by Paul Simao