Exclusive: Oil crash 'not permanent,' Mexico sticks to output, investment plans [Reuters]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
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Source: Reuters
Exclusive: Oil crash 'not permanent,' Mexico sticks to output, investment plans MEXICO CITY (Reuters) - Mexico will press ahead with oil investment and production plans, its energy minister told Reuters on Friday, arguing that a global crash in oil markets will be short lived and does not merit a change in strategy. In the coming days, the government will offer investment opportunities in more of its mature oil fields and network of refineries owned and operated by national oil company Petroleos Mexicanos (Pemex), Energy Minister Rocio Nahle said in an interview. “Today we’re in one of these phases where the price of oil is low, but this will not be permanent. Oil is a great business, the best in the world,” said Nahle. “We’re going to wait, just like the rest of the world.” The administration of leftist President Andres Manuel Lopez Obrador is not considering reopening the auctions for new oil fields favored by many private and foreign companies, she added. A close confidant of Lopez
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