Mexico puts Gulf deep water oil treaty with U.S. into effect
Source: Reuters
Mexico puts Gulf deep water oil treaty with U.S. into effect
MEXICO CITY Fri Jul 18, 2014 7:26pm BST
(Reuters) - Mexico on Friday put into effect an agreement signed in 2012 with the United States to allow companies to exploit deep water oil resources in the Gulf of Mexico that straddle the countries' maritime boundaries.
The deal, published in the government's gazette, lifts a moratorium on oil and gas exploration and production along the countries' maritime border in the Gulf and sets up a framework for companies to jointly develop any trans-boundary reservoirs.
State-run energy company Pemex has lagged far behind the United States in developing deep water oil reserves, but an opening of the oil and gas industries to private investment is expected to spur more projects in the Mexican side of the Gulf.
Mexico's Congress is voting this week and next on a series of bills needed to implement the energy reform, which is the centerpiece of President Enrique Pena Nieto's economic reform agenda.
Read more: http://uk.reuters.com/article/2014/07/18/us-mexico-usa-oil-idUKKBN0FN29R20140718?rpc=401&feedType=RSS&feedName=innovationNews&rpc=401
(Short article, no more at link.)
zeemike
(18,998 posts)But then such things are never talked about much...it is something we don't need to know I guess...who cares if the Gulf is turned into a cesspool.
Dustlawyer
(10,493 posts)Now instead of shrimp without eyes, they will have 2 heads!
blkmusclmachine
(16,149 posts)(Breaking Friday News Dump)
MoreGOPoop
(417 posts)Were I to write the next chapter of this book of life, it would
include wars AGAINST oil.