November 13, 2014 / 8:55 PM / 5 years ago

Mexico's Pemex inks $10 bln credit line with China's ICBC for oil projects

MEXICO CITY, Nov 13 (Reuters) - Mexico’s state-owned oil company Pemex has inked an initial line of credit for exploration and production projects as well as offshore acquisitions with Chinese bank ICBC, the company said in a statement on Thursday.

The line of credit was announced along with non-commercial agreements between Pemex and China Development Bank as well as the China National Offshore Oil Corporation, or CNOOC Group, one of China’s largest oil companies. (Reporting by David Alire Garcia)

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