The government of Mexico has decided not to relaunch upstream oil and gas auctions in 2020, considering that the three previous auction rounds had failed to attract investment and to raise production; only 29 of the 111 contracts awarded would be producing. Instead, it will present a plan on the participation of private companies in the national energy sector and will launch a series of energy projects using public and private investment in February 2020.
In December 2018, the National Hydrocarbon Commission (CNH) cancelled the next two oil and gas onshore bid rounds (rounds 3.2 and 3.3, namely Segunda y Tercera Licitación de la Ronda Tres) scheduled for February 2019, which would have offered nine unconventional onshore blocks with wet and dry gas. The government bets on national oil and gas company Pemex to reverse years of decline in crude oil production.
In addition, the government will review some wind and solar contracts, as subsidies are granted to private energy companies, and plans to release a plan to revamp legacy hydropower plants and focus on hydropower development.
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