Mexican government designated Zama as 'strategic project'
Optimism grows around Mexican upstream
Things are looking up for exploration and production in Mexico, with new finds and developments set to boost output in coming years
Recent announcements, deals and discoveries have greatly bolstered Mexico’s upstream and may help it continue to reverse declining production and ease NOC Pemex’s huge debt burden. ASX-listed Woodside has taken FID on Trion. The once-stalled Zama project is moving forward, following other offshore discoveries so far this year. And Pemex is already reporting rising crude output—all of which suggest the country’s upstream might be turning a corner. Woodside is targeting first oil from Trion in 2028. The Australian firm expects to receive regulatory approval for its field development plan in the fourth quarter of this year and describes Trion as comprising a “deepwater… large, high-quality conv
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
