Mexico oil reform gets back on track with new auction

As the price of oil was plummeting in July, the Mexican government auctioned off leases to explore blocks in the Gulf of Mexico. With energy companies retrenching, the auction was a failure.

But Mexico’s fortunes changed on Wednesday. In a follow-up auction, the Mexican government put five production blocks up for bid and awarded contracts for three, well above the average for similar auctions in Latin America.




Source: New York Times