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Mexico’s first licensing round
The Mexican government held the first in a series of petroleum auctions in mid-July to help open the energy industry, aiming to bring in an estimated $62.5bn by 2018 and increasing annual output by 500,000 b/d. These exploration and production contracts are the first since President Lazaro Cardenas nationalised the fields in 1938, and will end the monopoly of state-owned Petroleos Mexicanos (Pemex).
The government hopes the auctions can reverse a decade-long decline in crude output. (Petroleum Review will be taking a closer look at the Mexican energy sector in its September issue.)
News Item details
Journal title: Petroleum Review
Countries: Mexico -
Organisation: Pemex (Petroleos Mexicanos)
Subjects: Exploration and production
