A Review of the Nigerian Energy Industry

Mexico’s Pemex could delay call for joint ventures to 2020 -energy secretary

Mexico's Pemex could delay call for joint ventures to 2020 -energy secretary
*The Pemex logo is pictured during the 80th anniversary of the expropriation of Mexico’s oil industry at the headquarters of state-owned oil giant in Mexico City, Mexico March 16, 2018. REUTERS/Edgard Garrido/File Photo

Houston — Mexico’s state-run Pemex could delay to 2020 a call to energy companies to form joint ventures originally planned for October, amid government complaints that these companies have not invested quickly enough to make good on the promises of the country’s flagship reform, the energy secretary said on Wednesday.

Oil firms in Mexico have only invested $800 million out of billions of dollars committed to over a hundred new energy projects, Rocio Nahle said at the CERAWeek conference in Houston.

“They must comply with what the law says in terms of timelines, otherwise they will have to return (licenses and contracts),” she said.

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Reuters

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