EnergyWatch

Mexico holding oil bids like there's no tomorrow before election

Before the president responsible for overhauling Mexico's energy industry leaves, the government is trying to invite as much oil investment as possible.

Photo: Wintershall

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.

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