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Shell ahead in Mexico oil auction, wins five blocks

Adriana BarreraMarianna Parraga JANUARY 31, 2018 / 3:31 PM

MEXICO CITY (Reuters) – Royal Dutch Shell (RDSa.L) won five of the first eight oil and gas blocks awarded in Mexico’s prized deep waters in the Gulf of Mexico, making the early running in the country’s biggest auction since the energy sector was opened to international oil firms. The stakes are high for Mexican President Enrique Pena Nieto and his ruling party, which is keen to showcase the results of the liberalization ahead of a presidential election in July. Shell, in a consortium with Qatar Petroleum, won four of the first nine blocks on offer in the Perdido basin, which is close to U.S. waters where oil firms already operate and have infrastructure. READ FULL ARTICLE

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