México



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

Oil prices make good for oil majors eyeing Mexico's deep waters auction


The potential for 4.2 billion barrels of crude is the draw. Exxon leads potential bidders lining up from the U.K. to China

By Adam Williams

MEXICO CITY
Petroleumworld 01 24
2018

As the price of oil rises, an international rush is on for Mexico's untapped deep-water riches.

The who's who of the oil world -- led by Exxon Mobil Corp and Royal Dutch Shell Plc , the world's two biggest drillers by market value -- are lining up to bid in the country's Jan. 31 deep-water auction. And the interest is international in scope, drawing Chevron Corp. from the U.S., the U.K.'s BP Plc, Norway's Statoil ASA , France's Total SA , Australia's BHP Billiton Ltd , Russia's Lukoil PJSC and China's Cnooc Ltd , among others.

The total: 25 registered to bid for 29 deep-water plots across the southern Gulf of Mexico, the nation's regulator said Thursday. It shouldn't be a surprise. The areas up for grabs are estimated to hold as much as 4.2 billion barrels of crude oil in untapped deep waters where 76 percent of Mexico's prospective resources may lie, the energy ministry has said.

In the country's first-ever deep water oil auction last year, eight of the 10 blocks auctioned were won by international crude majors. The stakes are higher for the Jan. 31 bid round, which aims to auction almost 3 times the amount of fields as last year.

At the same time, it arrives on the heels of two recent 1 billion barrel-plus discoveries in Mexico shallow waters this summer, and as the price of oil has risen. Brent crude, the global benchmark, has jumped from $44.43 a barrel in November 2016, to close at $63.93 on Thursday, a 44 percent rise.


Story by Adam Williams from Bloomberg.

bloomberg.com/ 11 09 2017

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels


 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved.
Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.