Heavyweights lift Mexico's second oil round
Drilling boom offers bright spot in otherwise bleak global oil exploration outlook
After getting off to a rocky start, Mexico's oil opening is gathering momentum. This week's shallow-water acreage offering, the latest in a series of oil tenders started in 2015, was a resounding success. Ten of 15 blocks put up for tender were awarded, drawing winning bids from a healthy mix of international majors, local independents and national oil companies. Two years of oil auctions have now set the stage for an exploration drilling boom in Mexico that should bring billions of dollars of investment and, eventually, lift sagging output. It offers a rare bright spot in an otherwise bleak landscape for global oil exploration. Eni was the round's biggest winner, snapping up three of the bl
Also in this section
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
