Petroleos Mexicanos, Mexico ’s state-owned oil company, expects to sign its first exploration and production agreements with international companies as early as year-end after Mexico ended its 75-year monopoly. Pemex, as the state oil company is known, will initially focus on mature and deep-water fields to establish the ventures, Chief Executive Officer Emilio Lozoya said today. Possible associations in the refining, transportation and petrochemical businesses can be done once congress approves the so-called secondary legislation, which is expected in April, he said. “We expect that in exploration and production, by the end of 2014 or beginning of 2015 we achieve the first investments or associations,” Lozoya said today in an interview in Davos during the World Economic Forum . “The quickest way to monetize the investments that Pemex already did in exploration is through joint ventures. This means increasing output and oil income.” President Enrique Pena Nieto ended the […]