Ex-Im to finance $1B Mexican oil and gas deal

The Export-Import Bank said it will provide $1 billion in loan guarantees to sell oil and gas field goods and services to Mexico’s state-owned oil and gas company.

The two guarantees will help in the export of United States-made drilling services, platforms, generators, mud pumps, chemicals and other goods and services to Petróleos Mexicanos, or Pemex.

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“With these authorizations, Ex-Im Bank is continuing to meet our mission to support U.S. exporters and their workers by helping to maintain American jobs in both large and small businesses around the country,” Ex-Im President Fred Hochberg said in a statement.

Ex-Im, a government agency, said it aims to help United States industries by financing their exports to foreign companies.

Ex-Im estimated that the Pemex transactions, which it approved Monday but announced Wednesday, would support 6,700 United States jobs at large and small companies.

One of those companies is Louisiana-based Checkpoint Pumps & Systems, which makes chemical-injection packages and has about 100 employees, the agency said.