Mexico, Brazil eye strategic alliances in oil industry

Mexico, Brazil eye strategic alliances in oil industrySantiago, Jan 28 : Mexican President Enrique Pena Nieto and Brazilian President Dilma Rousseff discussed forging strategic alliances between oil giants Pemex and Petrobras during a meeting at the CELAC-EU summit in Chile.

"The two national companies (Pemex and Petrobras) seem to me to have an opportunity to explore possible alliances on different projects, (such as) technology exchanges (and) the development of shared projects," Pena Nieto said.

Mexico and Brazil signed an agreement creating "a working group of businessmen from both countries to explore available alternatives for greater exchanges among different sectors", the Mexican president said.

Rousseff agreed to visit Mexico soon for a bilateral meeting, while Pena Nieto plans to visit Brazil.

Mexico also plans to review the free trade agreement with the European Union that took effect in 2000 in an effort to update it, Pena Nieto said.(IANS)


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