Who owns mexicos oil

It was the first major oil discovery by foreign companies after reforms spearheaded by Mexico's previous administration opened up the country's energy sector to foreign and private producers, which Lopez Obrador has battled to roll back.

The Mexican government awarded Pemex the rights to operate the potentially lucrative offshore Zama discovery in a letter from the energy ministry dated July 2, even though the Talos-led consortium initially won the exploration and production contract in a oil auction. Talos, which announced the discovery of the Zama well in that gave its name to the deposit and argues that it should run the project, said in a statement it was "very disappointed" by the ministry's decision, adding that it would explore all legal and strategic options to maximize value for its shareholders from Zama.

The energy ministry's letter cited Pemex's technical know-how and nearby oil infrastructure as reasons giving it an edge, and cited a third-party study that concluded that Pemex's block holds a slight majority of the oil below. The letter backed heavily-indebted Pemex's claims from June that it had the financial capacity to develop the project and had nearby infrastructure for receiving, storing and exporting the crude. Miriam Grunstein, an energy expert at Rice University's Baker Institute for Public Policy who has written extensively on oil contracts, said the decision made it clear the Mexican government wanted Pemex to have control over the project, calling it a "political" move.

The price will be published at PM. Important notice. We are the most important company in Mexico, the largest tax contributor to the Mexican government, and one of the largest in Latin America. For further information: Statistical Yearbook Information available only in Spanish. For more information: Results. The implementation of social responsibility tools amounted to 2, During , there were 46 units certified by the General Health Council. For more information: Sustainability Report Information available only in Spanish.

Total Local Production. Total Exports. Total Imports. Imports from the U. Exchange Rates. In December , Mexico amended its constitution to allow both local and foreign private investment into the energy sector for the first time since its nationalization in The reforms permit international energy companies to operate in Mexico and include provisions for competitive production sharing contracts and licenses.

In addition to increasing the demand for technology and technical expertise for the development of upstream deep water and shale oil and gas fields, the energy reform also allows for greater private investment in retail fuel distribution. In April , the Mexican Congress modified the Hydrocarbons Law to give the Mexican Government broader powers to review and suspend existing import, commercialization, and distribution permits for all hydrocarbons.

The Mexican Government has repeatedly emphasized its efforts to strengthen Pemex. Completion of a new USD 8 billion refinery at the Port of Dos Bocas in the State of Tabasco, started in , and upgrading six existing refineries remain top priorities for Pemex and the Mexican Government. Pemex Industrial Transformation controls the national gas, refining, and petrochemical businesses and affiliated companies Drilling, Logistics, Fertilizers, Ethylene, and Cogeneration and Services.

In order to participate as a supplier to Pemex, companies must first complete the registration process at the Pemex Procurement International PPI website www. Companies that wish to become registered suppliers must submit copies of their articles of incorporation, audited financial statements, and commercial and financial references.

These companies will invest an estimated USD 18 billion from to to purchase seismic services, exploration, drilling and extraction equipment, including platforms and related services for wells. Private companies that were awarded contracts in upstream auctions during the previous administration are beginning to make substantial investments in exploration, drilling, and production activities and will continue to do so over the next few years.

This announcement raised concerns that other private companies could face similar issues.