Chevron, Repsol leave oil and gas blocks in Gulf of Mexico

Mexico

MEXICO CITY, September 11, 2023 – Chevron and Repsol have pulled out of offshore oil and gas exploration licences in Mexico, Reuters reported on Thursday.

Mexico’s National Hydrocarbons Commission announced that approvals were granted for American energy giant Chevron to return a deepwater block and for Spanish energy giant Repsol to return a shallow water block.

Both concessions are located in the same basin off the coast of the state of Tabasco.

Chevron has said it aims to maintain an office in Mexico to monitor industry developments.

Repsol’s Mexican assets now include only one deepwater concession.

According to Reuters, many companies including BP, Shell, TotalEnergies have begun or completed the process of partially or completely returning blocks to the Mexican government.

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