Four companies bow out of Mexico’s Round One tender

Four companies are exiting Mexico's Round One offshore oil tender, according to Reuters, citing regulator CNH. The companies included the Mexican units of Noble Energy and Glencore, Colombian national oil company Ecopetrol, and Thailand's PTT Exploration and Production Public Co. Ltd.

No explanation for the exits was given, but Reuters noted that tough rescission clauses in the tender’s production-sharing contracts may be a potential problem.

Eighteen companies remain to compete for 14 shallow-water oil fields, which are set to be awarded on July 15.

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