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Mexico finds success in second oil auction

After a disappointing first auction, Mexico’s historic oil opening regained momentum with a successful second bid round on 30 September

After a disappointing first auction in August, Mexico’s historic oil opening regained momentum with a successful second bid round on 30 September that saw highly competitive bidding and three of five blocks awarded, including one to Eni. The second bid round followed the blueprint Mexico’s oil reformers had envisioned when they passed the historic oil liberalisation legislation. They hoped a series of bid rounds would attract a diverse set of international and domestic players to invest in Mexico’s oilfields to help boost fading production. In August, it looked like the low oil price and regulatory missteps had knocked the reform process off course. The second auction has put it back on tra

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