Mexican Magnate Carlos Slim Forms Oil Company Sputnik News
go to original April 19, 2015

Mexican billionaire Slim, who is also the world's second-richest man, created his own oil company named Carso Oil & Gas, media reports say.

The company was formed after shareholders of the subsidiaries of Slim's industrial conglomerate, Grupo Carso, voted in February 2015 to merge Carso Infraestructura, Construccion y Perforacion and Condumex Perforaciones into Carso Oil & Gas.

According to a report released by the new company, its assets amount to 3.5 billion pesos (approximately 230 million dollars), which are placed in 17.7 million shares.

Earlier in an interview with Reuters, Slim said that he remains upbeat about the energy reform in Mexico, adding that up to 50 billion dollars should be injected into the sector.

Last year, Mexico completed a major overhaul of its energy sector, effectively ending the state monopoly held by state-owned oil company Pemex and opening the sector for private investors.

Read the rest at Sputnik

Photo: altonivel.com.mx

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