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Big Oil shies away from Mexico deepwater auction

Thursday, September 15, 2016


When Mexico opened up its energy sector for private investors in August 2014, oil prices were hovering above the $100 mark, and the big price crash had not started yet.

Two years later, in the ‘lower for longer’ price environment, Big Oil seems hesitant to jump on the joint-operating-agreement bandwagon with state-run company Pemex, in the Trion field in the Perdido Fold Belt in the northwestern Gulf of Mexico just next to the U.S. border.

Source: Oil Price