Mexico's reforms start to bear fruit
Mexico's energy overhaul is notching up successes after a slow start
Mexico's first international oil auction in July 2015, a landmark moment in the country's energy reforms, was widely panned as a failure. Just two of the 14 blocks put up for bidding garnered winning bids. The world's major international oil companies (IOCs), whose know-how and cash Mexico was desperately seeking, largely gave the round a pass. Even the most ardent reform supporters had to admit it was an inauspicious start. The critics were too hasty. Two years on, their dim judgement needs revising. The first exploration well to come out of that round was completed in July and it was a blockbuster. Talos Energy, a private-equity backed Gulf of Mexico explorer, said its Zama-1 well, drilled
Also in this section
6 March 2026
After Europe’s rapid buildout of floating LNG import capacity, Exmar CEO Carl-Antoine Saverys says future growth in floating gas infrastructure will increasingly be driven by developing markets as lower prices, rising energy demand and the need to replace coal unlock new opportunities for unconventional and tailor-made solutions
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
