Exclusive: Mexico to invite oil and gas investment, no auctions for now

EXCLUSIVE: Mexico will soon invite private firms to invest in oil, gas and power projects to help the flagging economy, no auctions for now by chitalomericano abrahamgonz

ACAPULCO, Mexico - Mexico will soon invite private firms to invest in oil and gas projects to help a flagging economy hit by the fallout of coronavirus, Finance Minister Arturo Herrera said on Wednesday, but cautioned energy auctions were not on the cards for now.

Herrera said a long-awaited energy plan will be unveiled soon that will detail where and how much private firms can invest. Under President Andres Manuel Lopez Obrador, Mexico has pursued a more statist approach to the energy sector and suspended auctions of oil fields. Herrera outlined a number of plans to nudge the economy into life, including bringing forward budgeted government spending and incentives for companies to invest in infrastructure.

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