Petroleos Mexicanos , the state-owned oil producer, is negotiating with Chinese companies to create a fund valued at as much as $4 billion to invest and finance projects. The proposed arrangement is in a “final stage of negotiations,” Pemex, as the Mexico City-based oil producer is known, said in an e-mailed statement yesterday, correcting an earlier filing that said a deal had already been signed. The Sino-Mex Energy Fund would be the largest Chinese investment fund in Latin America , according to the earlier statement sent to the Mexican Stock Exchange. The prospective agreement between Pemex’s international unit PMI Comercio Internacional and Xinxing Ductile Iron Pipes (000778) , SPF Capital Hong Kong Ltd. and other Chinese companies would be used to finance large-scale projects and create jobs. Pemex is seeking to increase sales to Asia and Europe to offset falling oil exports to the U.S., Mexico’s largest crude buyer. […]