More than half of Mexico’s conventional prospective resources are in deepwater areas
Letter from Mexico: Deepwater ambitions drowning in debt
Mexico must harness the vast resources in the Gulf to meet the government’s goal of energy autonomy
Deepwater Gulf of Mexico is a province retaining significant potential for oil and gas exploration wins, but Mexico’s search for these prizes has lagged significantly behind that of the US. Now, under the presidency of Andres Lopez Obrador, Mexico is seeking to recentre the oil industry as the country’s primary lever for socioeconomic development. And the country must try to capitalise on existing deepwater Gulf resources and find more to make Lopez Obrador’s dream of energy sovereignty viable. It is likely too late, though, for the basin to contribute materially to a 2024 output target of 2.6mn bl/d. Despite the current administration’s stated focus on its NOC reducing debt, Pemex remains t
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
