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South America

Other News

Sales boost helps TCO expand its workforce

TCO said it has expanded its workforce by a third after strong sales results for the company. The well completion technologies provider has employed eight new members of staff within the past six months for its UK base, including a new managing director. Paul Betteridge was appointed in March in response to company growth and to focus on TCO’s international expansion.

Oil & Gas

Mexico licensing auction: Too little, too late?

Mexico may have missed the mark in opening up its energy market to foreign investors as the oil price decline continues to hit, according to a leading expert. Derek Leith, UK head of oil and gas taxation at EY, said the fall in oil price may be a deciding factor in the historic auction for 14 licences in the South American country. Mexico has made the bold move as its rebounds from a decade long decline in oil production. It is estimated there has been an overall loss in that time of around a million barrels of oil per day.

Americas

Pemex to miss first round of Mexico oil tender

Mexican state-owned energy giant Pemex will not be participating in round one of the country’s historic energy opening. The move was revealed by Mexican energy minister Pedro Joaquin Coldwell. The initial tenders are part of an opening which is aimed at helping to bring more private investment into the country’s oil and gas sector.