Petrobras Too Busy For Mexico Offshore

Brazilian state oil company Petrobras has too much on its plate with deepwater projects in Brazil and the U.S. to move into Mexican offshore, Petroleos Mexicanos CEO Jesus Reyes Heroles said Wednesday.

Mexico approved an energy reform last fall in an effort to attract new players to its struggling oil industry. This year Mexico’s state oil giant, better known as Pemex, is drafting the fine print of upcoming service contracts that it hopes will attract international oil firms with experience in deep waters, a new area for Pemex.
CNN