Petroleos Mexicanos (Pemex) and BlackRock have signed a memorandum of understanding (MOU) to accelerate financing of energy-related infrastructure projects. BlackRock will provide industry expertise, risk management capabilities and sources of financing to Pemex. "We believe that Mexican infrastructure presents a substantial investment opportunity for our clients and builds on BlackRock's long-standing presence in Mexico while demonstrating the firm's ongoing commitment to the region," said Armando Senra, BlackRock head of Latin America and Iberia. In March, BlackRock and First Reserve agreed to take a 45% stake in the phase two segments of Pemex's Los Ramones Pipeline Project. The pipelines to carry U.S. gas to Mexico would be the first major midstream assets built with foreign capital since the recent reform of Mexico's energy sector, the partners said at the time (see Daily GPI, March 27).
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