The country has signed many exploration and production contracts to boost the oil sector, since it is facing tough times. Pemex production has fallen and will continue this tendency in the short and medium term. Fitch talked about the sector and its perspectives.
Pemex announced that it has already started projects to improve the quality of life and working conditions of fishermen in the state of Carmen and ExxonMobil (NYSE: XOM) granted scholarships to develop Mexico’s human capital. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Mexico began the process of creating a new oil market open to free competition and foreign investment. Several companies have shown interest in the country, but five companies represent the majority of the expected investments so far.