Big Oil shies away from Mexico deepwater auction

When Mexico opened up its energy sector for private investors in August 2014, oil prices were hovering above the $100 mark, and the big price crash had not started yet.

Two years later, in the ‘lower for longer’ price environment, Big Oil seems hesitant to jump on the joint-operating-agreement bandwagon with state-run company Pemex, in the Trion field in the Perdido Fold Belt in the northwestern Gulf of Mexico just next to the U.S. border.

Source: Oil Price