Sunday, July 25, 2021
91.3 F
Fort Worth

Mexico state oil co. spinoffs could exploit shale

🕐 1 min read

 

MEXICO CITY (AP) — An official with Mexico’s state-run oil company says a proposed energy reform could make it easier for Petroleos Mexicanos to create subsidiaries to exploit the country’s vast shale oil and gas reserves.

Production and exploration director Carlos Morales says the company has only started to explore shale reserves that could more than double daily gas output. Mexico currently has to import gas to meet demands. He said shale exploration is not run by large oil companies such as Pemex, as it’s known, rather by small specialty operations.

Morales said Thursday that companies working in shale reserves “no doubt” would need licenses or concessions to make the ventures worthwhile, arrangements that are forbidden by the constitution.

A controversial reform that would open up Mexico’s moribund oil industry is pending before congress.

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Related Articles

Our Digital Sponsors

Latest Articles

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate