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OIL
There is still a lot of private sector interest in developing oil and gas resources in Mexico, despite the shift towards public control by its President Andres Manuel Lopez Obrador (AMLO), panellists said during an energy and infrastructure forum, cited by Platts.
- However, Mexico would need different terms if it re-opened its resources to private investors, they added.
- Only around 10% of Mexico’s reserves have been opened to the private industry, with the remainder either held by Pemex or not assigned.
- Panellists said that the shallow-water and onshore deposits, the "low-hanging fruit," has already been exploited.
- They added that companies are currently biding for blocks in the deepwater Gulf of Mexico in the US side with high interest.
- Panellists added that Mexico has lost credibility in recent years due to changes in energy policy and this will be hard to recovery amid high taxes and royalties paid to the government.
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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