Pemex, CFE to favor local business

Mexico's state oil and power companies Pemex and CFE have agreed to receive 40% of supplies and materials from national companies, the Coahuila state governor's office announced. Juan Bueno Torio, director of Pemex Refinacion, penned the supply agreement in Coahuila with Mexico's economy secretary Fernando Canales Clariond and Yeidckol Polevnsky, director of industrialists' association Canacintra. The CFE has also agreed to ink the supply terms, reads the Coahuila statement, which adds the 40% rate could grow to 100% once national products match international quality and price standards.