Energy & Mining

Mine Your Own Business

A spate of major discoveries by foreign firms in July 2017 more than vindicated the government's major privatization reforms first put in place in 2013.

Huge offshore discoveries made in 2017 and looming concerns over whether or not major privatization reforms made to Mexico’s hydrocarbons industry since 2013 will be respected after Peña Nieto leaves office have placed the country’s energy sector at its biggest crossroads in a generation. With state-run Pemex production at its lowest in four decades, but oil creeping back up above USD70/barrel, the opportunities for shaking up the country’s energy sector are more than ripe, and hardly going unnoticed. That is why many both within and without the country have sought to establish one too many “facts on the ground” before Peña Nieto’s presidency ends in December. But will these bold moves hold firm under his successor?