VOICED : Oil firms brace for Mexico comeback

Foreign firms are set to re-enter Mexico's oil sector after 76 years due to a recent energy reform. This reform ends Pemex's monopoly, allowing foreign companies to sign profit-sharing contracts and drill for oil and gas. Major companies like Exxon Mobil and BP are interested but cautious, awaiting contract details. However, the reform faces opposition, with fears of Pemex privatization and budget cuts. Critics argue the fiscal framework is too generous to foreign firms, risking Mexico's oil income. Despite this, the reform aims to address Pemex's inefficiencies and production decline. Protests have erupted, with many Mexicans fearing the loss of Pemex, a national symbol.

What significant change allowed foreign firms to re-enter Mexico's oil sector after 76 years?

• A decrease in global oil prices

• The discovery of new oil reserves

• The end of Pemex's monopoly due to energy reforms

• A new trade agreement with the United States

Which major oil companies are showing interest in the Mexican market following the reforms?

• Saudi Aramco and Petrobras

• Total and Gazprom

• Shell and Chevron

• Exxon Mobil and BP

What is a major concern of opponents regarding the new energy legislation in Mexico?

• It will increase oil prices

• It will reduce foreign investment

• It will lead to Pemex's privatization

• It will cause environmental damage

What are some of the problems faced by Pemex that the reforms aim to address?

• Lack of skilled labor and high taxes

• Inefficient management and corruption

• Overproduction and low demand

• Environmental regulations and sanctions

Why have the energy reforms led to protests across Mexico?

• They reduce the number of jobs in the oil sector

• They are seen as a threat to Pemex, a national symbol

• They increase taxes on oil production

• They limit foreign investment opportunities