PEMEX REQUESTS CUTBACK OF U.S. EXIMBANK CREDIT LINE

From: SourceMex Economic News & Analysis on Mexico | Date: September 9, 1992 | Copyright information

According to the Sept. 1 issue of El Financiero, the state-run oil company Petroleos Mexicanos (PEMEX) has requested that the US Eximbank cancel a portion of the US$1.3 billion credit line granted in September 1991. The credit line was aimed at financing exploration of several new deposits in the Gulf of Campeche. Exploration of the Maloob and Zaap deposits, said PEMEX officials, has been postponed due to low world market prices. The Eximbank credit line included US$457 million allocated for Maloob, and US$585 for Zaap.

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