Russia's Lukoil, Mexico's Pemex to sign cooperation deal

|By:, SA News Editor

Mexico state oil company Pemex signs a co-operation agreement with Russian producer Lukoil (LUKOY, LUKOF) for exploration and production as the country is opening up its energy sector in a move to boost production.

Under Mexico's new law that ends the country's 75-year-old oil and gas monopoly, foreign companies will be able to enter the sector as Pemex is seeking to bring in expertise and boost efficiency.