Luis Videgaray News

Mexico's Energy Minister said on Monday that incentives for Pemex to keep its stake in Repsol are low, adding to suggestions the state oil company could pull its 2.3 billion euro ($3.16 billion) investment from the Spanish firm. Pemex, Repsol's third-biggest stakeholder, has had an increasingly troubled relationship with the Spanish oil major, over how Repsol handled the loss of a unit in Argentina and the degree of influence it has allowed its Mexican partner. Finance Minister Luis Videgaray, who is part of Pemex's board, said earlier this month that selling the stake would not be a bad idea, if funds were used for investment in Mexico.

Mexico's finance minister said on Thursday that if state oil giant Pemex opted to sell its 9.3 percent stake in Spanish peer Repsol, it would "not be a bad decision" because the money could be invested in Mexico. In an interview with Mexican radio, Finance Minister Luis Videgaray said Pemex's board would take the decision on whether to sell the stake in Repsol. "Irrespective of what the board decides, if the decision is to disinvest in a company like Repsol that operates outside of Mexico so as to get this capital and invest it in the opportunities which Pemex will have in Mexico, it wouldn't be a bad decision," Videgaray said. Pemex…