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Mexico's oil reforms stumble amid lower prices

The reformers have presented poor options to investors which has made conditions more fragile

It's hard not to feel some sympathy for the architects of Mexico's energy reforms. They spent years designing a much-needed overhaul of the country's oil sector and pushing it through a resistant political system, only to see a global oil price crash threaten the entire project. Faced with this new landscape, however, the reformers haven't been doing themselves any favours.  With oil prices declining, potential bidders were looking for more favourable terms for the country's first oil auction, which will focus on shallow-water projects, but were caught off guard by a series of restrictive bidding conditions that could diminish interest in the round.   Bidders, for instance, that produce mo

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