Successful Auction for Oil Drilling Rights in Mexico Follows Weak Debut

An official from Eni, the Italian oil company, at Wednesday’s auction for Mexican drilling leases. (Ronaldo Schemidt/Agence France-Presse - Getty Images)
An official from Eni, the Italian oil company, at Wednesday’s auction for Mexican drilling leases. (Ronaldo Schemidt/Agence France-Presse – Getty Images)

By Elisabeth Malkin / New York Times

As the price of oil was plummeting in July, the Mexican government auctioned off leases to explore blocks in the Gulf of Mexico. With energy companies retrenching, the auction was a failure.

But Mexico’s fortunes changed on Wednesday. In a follow-up auction, the Mexican government put five production blocks up for bid and awarded contracts for three, well above the average for similar auctions in Latin America.

The success of Wednesday’s bidding appeared to put the government’s new oil policy back on track. Mexico has ended more than 75 years of a state monopoly to invite in foreign investment in an attempt to end a decade-long decline in oil production.

Investors were attracted by relaxed rules and by the characteristics of the blocks, which hold probable oil and gas reserves, analysts said.

“I think the message is clear,” said Oscar López Velarde, Ernst and Young’s oil and gas tax leader in Mexico, who advised some of the bidding companies. “As soon as you see a good selection of blocks, you will see people coming into the country.”

http://www.nytimes.com/2015/10/01/business/international/successful-auction-for-oil-drilling-rights-in-mexico-follows-weak-debut.html

Mexico’s missing 43: Report exposes lies and a new theory

The New Yorker – The Interdisciplinary Group of Independent Experts (GIEI) report on what happened to 43 student teachers in Iguala has opened up breaches in the way the Mexican government has always operated. The challenges represented by the report can’t be wished away or denied or buried by the usual waves of media propaganda and calumnies.

http://www.newyorker.com/news/news-desk/mexicos-missing-forty-three-one-year-many-lies-and-a-theory-that-might-make-sense

“El Bronco” spreading word of historic win

El BroncoSan Diego Union-Tribune – Jaime “El Bronco” Rodríguez, the first major independent candidate to win an election in Mexico in nearly nine decades, is working to spread the word about his historic victory as governor of Nuevo Leon. “This is a rebirth,” he said. “We are calling this the second Mexican revolution.”

http://www.sandiegouniontribune.com/news/2015/sep/30/jaime-rodriguez-bronco-nuevo-leon-independent/

“Chapo” mother asks him to seek God’s help

TeleSur -Deep in the mountains that El Chapo widely controls and where he is said to remain since he broke out of prison weeks ago, Consuelo Loera granted Univision a rare, but brief television interview in which she called on his billionaire son to seek divine help to confront the problems he faces.

http://www.telesurtv.net/english/news/El-Chapos-Mother-Asks-Him-to-Seek-God-Before-Its-Too-Late-20150930-0003.html