The Mexican oil sector has faced a difficult crisis in recent years, affecting the economy of several regions. However, local associations expect a recovery of activities thanks to new projects signed in the past oil auctions. Marcos Theurel Castro, Director of the Integral Port Administration (API), spoke about the expectations for offshore oil platforms.
Carso Energy, a subsidiary of the Grupo Carso, has been involved in several energy and oil projects in Mexico and other countries in the region. The business group’s plans are ambitious, and it wants to continue expanding its presence in the energy sector.
Directors of top global firms like Australia’s BHP Billiton (LON: BLT), America’s Shell (LON: RDSB) and France’s Total (NYSE: TOT) explained that their investment plans in the country have a long-term vision and that AMLO’s policies have not affected them so far.
According to Pablo Zárate, information director of Pulso Energetico newspaper, investing in Pemex and increasing its production could weaken it, because the firm has not achieved enough profitability to operate with good finances.
The election of Andres Manuel Lopez Obrador (AMLO) has created a lot of uncertainty in the Mexican energy sector due to his proposals against private investment. However, oil firms have shown their intention to continue working in the country and Petrobal expressed its interest to continue investing.