Pemex sells PMV stake to Mexichem

Mexico (Notimex) – Mexican state-owned oil firm Pemex has sold its 44 percent stake in Petroquímica Mexicana de Vinilo, PMV, to Mexichem for $3.4 billion pesos.

“Pemex is moving forward with the 2017-2021 Business Plan and consolidating its finances, as well as improving competitiveness in strategic areas with more productivity in the new global energy industry context,” the company said in a statement.

The move means Pemex will regain control of the Pajaritos Petrochemicals Complex.

Photo: Public Domain (CC0)

Related stories