A PYMNTS Company

Mexico: Gov to auction oil and gas blocks

By  |  December 5, 2016

In a highly anticipated opening to foreign oil companies, Mexico is holding its first auction of deepwater oil and gas blocks on Monday. Investors will be watching the results closely as a measure of the energy overhaul’s success.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The deep waters off Mexico’s Gulf Coast are believed to hold important reserves of oil and gas, but Mexico’s longtime national oil company Petróleos Mexicanos, or Pemex, does not have the capital or expertise to develop them.

    Four blocks are being offered in an area just south of American waters and another six blocks are in the southern Gulf of Mexico. An additional block is licensed to Pemex, and companies will also be bidding for the opportunity to develop it in partnership with Pemex.

    Full Content: New York Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.