More than half of Mexico’s conventional prospective resources are in deepwater areas
Letter from Mexico: Deepwater ambitions drowning in debt
Mexico must harness the vast resources in the Gulf to meet the government’s goal of energy autonomy
Deepwater Gulf of Mexico is a province retaining significant potential for oil and gas exploration wins, but Mexico’s search for these prizes has lagged significantly behind that of the US. Now, under the presidency of Andres Lopez Obrador, Mexico is seeking to recentre the oil industry as the country’s primary lever for socioeconomic development. And the country must try to capitalise on existing deepwater Gulf resources and find more to make Lopez Obrador’s dream of energy sovereignty viable. It is likely too late, though, for the basin to contribute materially to a 2024 output target of 2.6mn bl/d. Despite the current administration’s stated focus on its NOC reducing debt, Pemex remains t
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
