Petroleos Mexicanos (Pemex), and BlackRock have signed a Memorandum of Understanding (MOU) to accelerate the efficient development and financing of energy related infrastructure projects of strategic importance to Pemex. Through this MOU, BlackRock, a preeminent asset manager with global infrastructure investment capabilities and a local presence in Mexico, will provide industry expertise, risk management capabilities and sources of financing to support Pemex’s mission to enhance its market position and maximize its value to Mexico.
Jose Manuel Carrera, Corporate Director of Strategic Partnerships and New Ventures, of Pemex commented, “Through this MOU, Pemex will stimulate new projects with efficient financial solutions.”
Jim Barry, global head of BlackRock Infrastructure said, “BlackRock is very excited to partner with Pemex in its pursuit of efficient financing solutions for its energy infrastructure project pipeline. In Mexico, where BlackRock is already the leading international asset manager with $25 billion of AUM, we are committed to building the leading infrastructure investment platform for the benefit of our local and international clients.” BlackRock’s global Infrastructure platform manages more than $6 billion in invested and committed assets in debt and equity strategies.
Armando Senra, BlackRock’s head of Latin America and Iberia commented, “We believe that Mexican infrastructure presents a substantial investment opportunity for our clients and builds on BlackRock’s long-standing presence in Mexico while demonstrating the Firm’s on-going commitment to the region.”
Pemex is the most important company in Mexico and one of the largest in Latin America and the biggest tax contributor to the Mexican government. Pemex has become one of the few fully integrated oil companies, developing its entire productive chain: exploration, production, industrial processing/refining, logistics and marketing.
Its business involves a complex myriad of installations and advanced technology, yet the core of the company is its experienced and trained personnel. Pemex carries out extensive exploration and extraction projects every year, generating approximately 2.5 million barrels of oil daily and more than 6 million of cubic feet of natural gas.
It has 6 refineries, 8 petrochemical complexes and 9 gas processing complexes, where it produces multiple refined products in order to attend to customer’s needs in different segments.
Logistically, Pemex has 83 land and maritime terminals, as well as oil and gas pipelines, maritime vessels, and varying fleets of ground transportation in order to supply over 10,000 service stations throughout the country.
Pemex seeks to continuously be a socially responsible company that works under stringent safety, job, health and environmental protection standards. It actively participates in protecting and contributing to the communities where it operates by making significant donations to public works, environmental protection and community building projects with the goal of improving health and welfare. All this facts positions Pemex as competitive oil company worldwide.
BlackRock has $109 billion in investments and 100+ employees dedicated to Latin America with offices in Mexico, Brazil, Chile and Colombia. The firm’s Mexico office consists of a 27-person team that manages $25 billion in AUM and delivers the firm’s institutional and wealth clients a comprehensive range of local and international investment solutions and services across asset classes, geographies and investment strategies.
BlackRock’s Infrastructure platform manages more than $6 billion in invested and committed assets in debt and equity strategies. The platform provides investors with infrastructure equity and debt investments via funds, co-investments, managed accounts and multi manager strategies. The team of investment professionals is based in New York, London, Dublin, Mexico City, Paris and Zurich.Older postNewer post