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Mexico names day for deep-water oil auction

Tuesday, February 23, 2016

Mexico has named the day for its tender of offshore deep-water prospects… almost. The long-awaited auction will be held in “the first few days of December”, Enrique Peña Nieto, Mexico’s president, told an energy forum in Houston.

The president said the decision came “regardless of the oil price in the short term”. Indeed Mexican officials insist the oil price slide will not hurt the planned auction of blocks in the Gulf of Mexico, saying the projects are long-term and thus interested companies are not swayed by short-term price swings.

Source: Financial Times