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Gulf of Mexico investment opportunities for UK firms

UK oil and gas companies would do well to keep the Gulf of Mexico on their radar as Pemex opens the door to foreign investment

Mexico has been a difficult upstream market for companies to enter – with many still smarting from failed attempts. But there are signs that the world’s sixth-largest oil producer is opening up, as economic circumstances drive political change. Pemex, the national oil company (NOC), has one of the biggest exploration and production spends compared with other NOCs – $18 billion for 2011 alone. And Mexico is also a great place to do business: ranked 35 in the World Bank’s Doing Business 2011 report, there is less red tape than in countries such as Brazil, ranked 127. Working in Mexico is not without challenges, however. The constitution reserves the ownership and exploitation of domestic hyd

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