Lukoil becomes the first foreign company that receives access to Mexican oil

The Mexican state-owned company Pemex and Lukoil have signed a cooperation agreement during the World Economic Forum in Davos; it provides for joint work in the sector of exploration and extraction of oil.

Lukoil’s president, Vagit Alekperov and Pemex’s general director, Emilio Lozoya signed the document. The Mexican President Enrique Peña Nieto also was at the signing. Lozoya noted that the conclusion of the agreement became possible after implementation of a reform in the Mexican energy industry.