Petrobras and Pemex Make a Deal to Exploit Oil

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Petrobras and Pemex will cooperate in the exploration and production of hydrocarbons and in the refining and marketing of biofuels. Imago Two of the largest state oil companies in Latin America were surprised by the announcement of an alliance: Petrobras and Mexican Pemex signed a memorandum of understanding, initially valid for two years, to cooperate in the exploration and production of hydrocarbons. They also negotiated a second agreement, fo…