European Majors Snap Up Mexican Oil Contracts Ahead of Election
- Shell, BP, Total, Repsol, Eni, Lukoil among auction winners
- Mexico awards development licenses for 16 shallow-water blocks
Photographer: Susana Gonzalez/Bloomberg
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European oil majors are swarming the shallow-waters of the Gulf of Mexico as the country races to attract investment before an election.
Anglo-Dutch giant Royal Dutch Shell Plc, the U.K.’s BP Plc, France’s Total SA, Italy’s Eni SpA, Spain’s Repsol SA, Russia’s Lukoil PJSC and DEA Deutsche Erdoel AG of Germany all won blocks -- a number of them in partnership with state-owned Petroleos Mexicanos. Among notable absentees were U.S. majors like Exxon Mobil Corp. and Chevron Corp., which have grabbed deep-water prospects in a previous round.