LatinNews Regional Monitor: Mexico - 13 July 2017

* Mexico’s federal government has awarded 21 of 24 onshore oil and gas blocks covering the Burgos, Tampico-Misantla, Veracruz, and Cuencas del Sureste areas. A consortium of Sun God Energia de México, a subsidiary of Canada’s Sun God Resources and Mexico’s Jaguar Exploración y Producción de Hidrocarburos (Jaguar), won six out of 10 areas available in the first of two tenders. There were no bidders for three of the areas. In the second tender of 14 blocks, Jaguar also won another five areas, all of which were auctioned. Mexico’s hydrocarbons commission (CNH), the sector’s regulator, said that this would eventually generate around US$2bn in investments. The auctions are part of a landmark 2013-2014 energy reform, which opened up Mexico’s energy sector to increased private participation and ended the long-standing monopoly of Mexico’s state-owned oil firm Petróleos Mexicanos (Pemex) on oil production.

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