Japan's JBIC, Mexican Pemex Sign MoU

State-owned Japan Bank for International Cooperation (JBIC) and Mexican Pemex have signed a memorandum of understanding on strengthening the cooperative relationship in the oil and natural gas sector, energy-related infrastructure and environment fields, the two companies said March 13.

The MoU also intends to promote Japanese companies' participation in upstream development and oil refinery upgrading business run by Pemex in Mexico.

“As Japan's policy-based financial institution, JBIC will continue to support the overseas development and acquisition of natural resources by Japanese companies and contribute to the creation of business opportunities for Japanese companies to participate in and to further deepen and develop the economic relationship of Japan and Mexico,” JBIC said.