Ex-Im Bank gives loan to Pemex for equipment, services

The US Export-Import Bank Apr. 5 approved a long-term loan guarantee to support $225.2 million in equipment and service exports to Mexico state-owned oil and gas production company Petroleos Mexicanos (Pemex).

The equipment and services will be provided by multiple US companies, Ex-Im Bank said. US exporters include: Solar Turbines Inc., San Diego, Calif.; Nabors Industries Ltd., Houston; Noble Mexico Ltd., Houston; Noble Drilling Services Inc., Sugar Land, Tex.; and Pride Offshore Inc., Houma, La.

"US exporters and their workers will benefit from these export sales, which will also help Mexico address critical economic and social needs," Ex-Im Bank Chairman Philip Merrill said.

Ex-Im Bank's $200 million guarantee will support Pemex's purchase of $225.2 million in engineering services, oil and gas field equipment, and drilling and well services from US exporters for the company's Strategic Gas Program.

The 15-year, multibillion-dollar program is intended to help Mexico meet its growing needs for natural gas.