Menu Search Facebook Twitter
Search Close
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers

Energy Reform Collects $70 Bln in Investments in Two Years

The last bid of the round yielded $34 billion, five times more than the past three bids

Director of BP Downstream in Mexico Álvaro Granda, Pedro Joaquín Coldwell Energy Secretary, Richard Harding vice-chair of BP Commercial Development and New Business and Oliver Evans representative of the British Embassy during the presentation of the first BP service station in Mexico., photo: Cuartoscuro/Isaac Esquivel
By Vianey Pichardo Whatsapp Twitter Facebook Share
4 months ago

The Energy Secretariat (Sener) announced that the new energy reform has already raked in $70 billion in investments and could reach $100 billion by the end of 2017.

“If we take into account awarded investments instead of investment expectations, the value chain of the energy sector — hydrocarbons and clean energy — adds up to $70 billion, which will start to flow into the country in the next few months and will continue all through the present and upcoming presidential terms,” said Energy Secretary Pedro Joaquín Coldwell.

The last bid of the round yielded $34 billion, five times more than the past three bids.

“These eight contracts add up to 2.4 million barrels of crude oil, which is 10 times the prospective resources awarded in the first three bids. This represents only a tenth of the total resources estimated to be available in deep waters in the Gulf of Mexico. Hence, this bid is known by experts and media as the Crown Jewel,” said Coldwell.

These eight contracts with 48 new companies — 26 of which are Mexican — will be part of the this opening of the energy industry.

“This is a landmark to the national industry. From now on we will be working with the giants of oil production, which will level our country to the most developed oil-producing countries in the world,” said Coldwell.

Comments Whatsapp Twitter Facebook Share
More From The News

GOP Health Bill: Big Tax Cuts for Rich, ...

1 min ago

FDA Takes Steps to Boost Generic Competi ...

1 min ago

Retracted CNN Story a Boon for President ...

23 mins ago

FIFA Publishes Garcia Report on 2018-202 ...

24 mins ago
Most Popular

LGBTQ: A Troubled History in Mexico

By Federico Rojas Frias

What You're Doing This Weekend in Mexico ...

By The News

The Bane of Adult Acne

By Thérèse Margolis

Mexico City's Pride March Attracts Massi ...

By The News

None Injured By Iztacalco Factory Fire

By Notimex