When the envelopes containing bids for the shallow water exploration blocks were opened in Mexico City on 15 July, the architects of the reform were disappointed after only two of 14 blocks were awarded. After creating new incentives for oil companies, critics stayed quiet and alleged corruption instead of their traditional cry against resource sovereignty. Scrutiny is expected to remain high as Round One continues. Finally, the fall in oil prices has strained the country's finances, but new non-oil revenues should grant Mexico enough manoeuvring room to relax fiscal terms in latter phases of Round One.
Table of contents
Treading water amidst falling oil revenues
Political reaction - muted & evolving
Tables and charts
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