Mexico encouraged to step up oil opening

Buoyed by the results of Mexico’s first deep-water oil auction, widely seen as a big success, President Enrique Peña Nieto’s government plans to raise the bet.

Mexico intends to hold a second, much bigger deep-water auction around October next year, while state firm Petróleos Mexicanos will likely seek as many as 25 partnerships with private firms over the next two years, Energy Minister Pedro Joaquín Coldwell said in an interview.

Source: Wall Street Journal