Mexico falls short of oil auction goal
Mexico's first oil auction
Mexico City - Arab Today
Mexico's historic first oil auction fell short of expectations on
Wednesday, with only two of 14 blocks in the Gulf of Mexico awarded, to a Mexican-led
consortium.
The government had expected to auction off four to seven of the shallow-water oil fields.
But nine received zero offers while the group led by Sierra Oil & Gas was the only one to
make acceptable bids for two blocks.
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