US oil service investments in Mexico secured by $400 million US Ex-Im Bank loan guarantee

The Export-Import Bank of the US has approved a $400 million long-term loan guarantee in support of 95 US exporters selling up to $447 million of oil and gas field equipment and services to Petroleos Mexicanos (Pemex).The transaction is the fourth and final conversion of a $1.1 billion preliminary commitment authorized by Ex-Im Bank in September 2002 to support US exports for Pemex projects, bank officials said.Pemex will use the equipment and services financed under this latest loan guarantee for its New Pidiregas Projects (NPP) to boost oil and gas production at 23 existing sites near the Bay of Campeche. The guaranteed lender on the transaction is BNP-Paribas, New York.Companies affect...

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