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2015-02-07 16:30:00

OIL PRICES IMPACTS

OIL PRICES IMPACTS

The recent global crude-oil price plunge could be aggravating underlying problems in Mexico, Colombia, and other Western Hemisphere producing nations, speakers suggested during a Feb. 4 discussion at the Woodrow Wilson International Center for Scholars.

"Mexico is a perfect storm—a serious production decline and a low oil price," said Duncan Wood, who directs the center's Mexico Institute. "It instituted modest energy reforms that look more like service agreements than production-sharing contracts. This might explain why only seven [international oil companies] have asked to see data rooms for the 14 offered contracts. There's a perception the program has failed."

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Tags: OIL, PRICES, PRODUCTION, US, CANADA, MEXICO, PEMEX, VENEZUELA, BRAZIL, PETROBRAS
Chronicle:
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