Brazil and Mexico Come Together Over Oil

Brazil and Mexico Come Together Over Oil

Post on January 30, 2013, 1:00 pm by the-victoria-law-group 1 Comments

Although not geographically contiguous, Mexico and Brazil are getting very cozy with each other’s oil.  The leaders of Brazil and Mexico have agreed to create a working group to study technology exchange and potential projects between the government-run oil companies of both nations.  A potential business venture may create the biggest oil company in the World.  Petrobras, as Brazil’s oil company is also known, has expanded aggressively through offshore, deep-water oil exploration in partnership with foreign oil players. Mexico is seeking to reform the country’s energy regulations under its new President, as local oil monopoly Pemex has faced significant funding constraints to conduct capital-intensive, deep-water exploration projects in the Gulf of Mexico.  This is interesting, but in my opinion, it’s a generation too late.

Read Fox Business article here:

http://fxn.ws/11akicu

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Filed Under: Business in Brazil

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