Chevron is first global oil major seeking Pemex partnership

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX) is the first major global oil producer to reveal partnership plans with Pemex since Mexico signed legislation to reopen its doors to foreign producers, as the company's president for Latin America and Africa says CVX is in talks with the state-run firm regarding exploration opportunities in deepwater, shallow water or shale.

CVX says it is waiting for the passage of Mexico’s secondary energy legislation before deciding the sites of the first partnerships in Mexico; the legislation, which will determine Pemex’s participation in new projects and the tax structure for private companies joining the newly opened energy market, could be approved as soon as June.

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