Brazil Vs. Mexico in the fight for Big Oil's money

Brazil and Mexico are competing for a diminishing resource: the investment dollars of oil majors beating a retreat from the big-ticket offshore projects they once coveted.

After two waves of resource nationalism that left few openings in Latin America for energy giants such as Exxon Mobil Corp, Royal Dutch Shell Plc and Total , the tables are turning.

Governments throughout the continent are enacting reforms and changing contract terms to lure oil firms that have slashed spending as they adapt to lower crude prices.

Source: Reuters