OREANDA-NEWS. November 21, 2014. Mexico's state-owned oil company Pemex has inked an initial line of credit for exploration and production projects as well as offshore acquisitions with Chinese bank ICBC, the company said in a statement.

The line of credit was announced along with non-commercial agreements between Pemex and China Development Bank as well as the China National Offshore Oil Corporation, or CNOOC Group, one of China's largest oil companies.