Oil and gas heavyweights make strong bids for Mexican offshore drilling rights
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Mexico City
THE international oil industry on Monday agreed to pay billions of dollars to the Mexican government for rights to drill in the country's portions of the Gulf of Mexico.
The companies made a big bet that oil and natural gas prices would eventually rebound enough to make additional exploration and drilling profitable. The sale was validation of Mexico's decision to open its former government-monopoly energy business to foreign investment and expertise.
Share with us your feedback on BT's products and services
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
