Why Mexico needs a 2nd national oil company

PPP 10046 - Introducti

Why Mexico needs a 2nd national oil company

A state-majority owned company for offshore exploration

At a Mexico panel at the Offshore Technology Conference (OTC) on May 4, speakers worried that the pace of exploration in deep-water areas is too slow to build the needed “E&P Village.”

During the Q&A, the status of Pemex as a government agency was raised as a problematic issue, as Mexico had not followed the route of other countries like Norway in creating a mixed-equity national oil company (NOC). This report identifies the benefits to be obtained from a market-based NOC and lists the legal and practical steps needed to create a Pemex-B that would be focused on finding partners for offshore exploration blocks.

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Written by

George Baker

Baker & Associates offers niche-market business and policy intelligence related to Mexico's oil and gas, power and chemical industries. Subject matter expert and publisher George Baker, who spearheads the firm, carried out consulting assignments starting in the late 1970s at the height of the Oil Boom in Mexico. He brings bilingual and bicultural skill-sets to understanding and responding to challenges of business and public policy, coupled with a deep familiarity with the history and idiosyncrasies of the Mexican operating environment.

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