EXCLUSIVE: Pemex nears sale of fertilizer unit

Mexican state-owned oil firm Pemex is ready to spin-off its fertilizer business. In the opinion of rating agencies, despite its strong recent efforts to reduce operating costs, the company must still concentrate in rebuilding its proved reserve stock of 8.4 billion barrels of oil equivalent, that fell from 12.1 billion barrels in 2014. “The sale makes sense. It’s a natural thing to expect,” a person familiar with the situation told Latin Trade. A deal could be closed as early as the end of the year, the source said. Latin Trade reports. Mexico’s Grupo Modelo to invest $753 million to boost production Mexican brewer Grupo Modelo, a subsidiary of AB InBev, will invest $753 million in a new plant that will […]

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