The NY Times on Mexican offshore oil and gas investment by multinationals:
“The international oil industry on Monday agreed to pay billions of dollars to the Mexican government for rights to drill in the country’s portions of the Gulf of Mexico.”
“Perhaps more than anything else, the bidding shows that the industry has confidence it will emerge from its current malaise of low prices, layoffs and cuts in capital spending. The companies are betting that if prices recover, they can profitably produce oil from high-cost, deepwater projects.”
Here is the link: http://www.nytimes.com/2016/12/05/business/energy-environment/oil-and-gas-industry-takes-stakes-in-mexican-offshore-fields.html
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