As Oil Prices Rise, Global Majors Eyeing Mexico's Deep Waters
- The potential for 4.2 billion barrels of crude is the draw
- Exxon leads potential bidders lining up from the U.K. to China
Photographer: Susana Gonzalez/Bloomberg
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As the price of oil rises, an international rush is on for Mexico’s untapped deep-water riches.
The who’s who of the oil world -- led by Exxon Mobil Corp and Royal Dutch Shell Plc, the world’s two biggest drillers by market value -- are lining up to bid in the country’s Jan. 31 deep-water auction. And the interest is international in scope, drawing Chevron Corp. from the U.S., the U.K.’s BP Plc, Norway’s Statoil ASA, France’s Total SA, Australia’s BHP Billiton Ltd, Russia’s Lukoil PJSC and China’s Cnooc Ltd, among others.