CNH declares Mexico auction void

MEXICO CITY, November 7, 2017 – Mexico’s National Hydrocarbons Commission (CNH) declared an auction void on Monday after it received no proposals from companies wishing to become the marketer of the state’s hydrocarbons.

The CNH was offering a three-year contract to a private company to sell oil and gas that the state received from PSCs signed since the passing of the 2014 energy reform. The winner of the tender would have started working on January 1, 2018.

Following the failed auction, the commission posted on its Twitter account that it would organise a new public tender within the coming days.

According the CNH documents, prior to Monday’s auction, several companies had shown an interest in submitting proposals, including Trafigura, Shell, BP Energía de México and the trading arm of state-owned Pemex, PMI Commercial Internacional.

All of Mexico’s state-owned oil and gas has been marketed through PMI since it was established in 1989.

Read our latest insights on: