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As Mexico Welcomes Oil Giants, Pemex Future Hangs on an Auction

  • Monday’s offshore auction is key step in Mexico’s oil overhaul
  • Exxon, Chevron and BP are among companies that may bid
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Pemex CEO: OPEC Are Not the Only Producers of Oil

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Pemex’s chance to enter the modern oil era hangs in the balance of the country’s Dec. 5 auction.

Mexico will hold its first-ever deep-water auction on Monday -- part of an effort to attract investment from international oil giants such as Exxon Mobil Corp., Chevron Corp. and BP Plc to help develop the country’s offshore oil properties.