Mexico Holds Oil Bids Like There's No Tomorrow Before Election
- Over 100 areas to be auctioned before the end of summer
- Race to lure investment heats up as president set to leave
Photographer: Susana Gonzalez/Bloomberg
This article is for subscribers only.
Mexico is trying to lure as much oil investment as possible before the president who overhauled the country’s energy industry leaves.
By the end of the summer, the country that until recently had a state monopoly on crude will have offered more than 100 permits to oil majors like Exxon Mobil Corp. in three auctions this year. The last bidding round, announced on Wednesday, will cover an area bigger than Delaware.