Mexico sweetens tax terms for energy groups

Mexico is sweetening the tax terms for energy groups hoping to develop the country’s oil and gas resources, because of government fears that the fall in crude prices could prompt companies to submit low bids.

The North American country is holding its first competitive tender under which energy groups bid for contracts to explore and develop Mexico’s hydrocarbons — in a move that will end the 77-year monopoly enjoyed by Pemex, the state-controlled oil and gas company.




Source: Financial Times