Pemex to compete in Mexico's first oil tenders

Pemex plans to take part in the first two public tenders opening up Mexico’s oil and gas industry, according to Reuters. The two tenders will include one for 14 production and exploration areas, and the other for five contracts spread over nine production fields.

Reuters also reported that Mexico’s government is encouraging private-sector involvement in the opening of the country’s energy sector. Due to slumping oil prices, the government would like to see the private sector taking on a bigger role in planned public works.

Finance Minister Luis Videgaray has commented that he is analyzing how more private money could be drawn in via potentially lucrative concessions and other mechanisms.

 

 

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