Daily Report for Executives provides in-depth coverage of unfolding legislative, regulatory, and judicial news from the nation’s capital, the states, and around the world. This daily news service...
By Emily Pickrell
Sept. 30 — Mexico awarded three of its five offshore production fields on offer at its oil and gas auction, as energy officials and independent observers acknowledged the sale as largely a success, with the government share of potential profits topping 80 percent in each award.
The three winning bidders Sept. 30 were Eni International, an Italian oil and gas company, a consortium made up of Argentinian Pan American Energy and E&P Hidrocarburos y Servicios and a consortium that included Fieldwood Energy and Petrobal. Nine international companies participated in the auction out of the 14 companies that had been pre-qualified to take part.
“This is a signal of confidence in the institutions and the contractual structure we have created for the energy reform,” said Miguel Messmacher, the undersecretary for Revenue at Mexico's Treasury Ministry, which oversees the fiscal terms for contracts, at a press conference. “These offers and the number of participants, especially in a challenging world market, show that this is a clear success.”
Eni International offered the Mexican government 78.25 percent of oil profits for its Block One offer, more than doubling the 34.80 percent minimum profit oil share the government had requested. Eni International also offered a 33 percent increase over the minimum national content requirement the government had established and which is weighed as 10 percent of a bid's competitiveness.
The Argentinian Pan American Energy consortium gave the lone offer for Block 2: extending a bid of 68 percent oil profits and a 100 percent increase over minimum national content requirements. The Texas-based Fieldwood Energy consortium offered a 74 percent oil share and 10 percent national content increase.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)