Pemex in Talks to Pay KKR $320 Million for Fuel-Import Terminal

Petroleos Mexicanos is in advanced talks to buy KKR & Co.’s Monterra Energy fuel-storage terminal in Tuxpan, Veracruz, in one of the latest blows to Mexican energy liberalization that ushered in a wave of foreign investment.

Pemex, as the state oil company is known, is planning to pay $320 million for the 2.2 million-barrel import terminal, according to two people with knowledge of the situation who asked to remain anonymous because the talks are private. A Monterra representative declined to comment; Pemex didn’t immediately respond to an emailed inquiry.

Houston-based Monterra Energy was founded by KKR to invest in ...