MSCs mark first step toward Mexico's gas independence

12/08/2003
The multiple service contracts recently awarded by Petroleos Mexicanos, Mexico's national oil company, to international oil companies "mark an important step on the road to freeing Mexico from its growing dependence on gas imports," said officials at Wood Mackenzie Ltd., Edinburgh.MSCs came about as a direct result of Mexico's strategic need to increase gas production so as to stem a rising tide of expensive imports, they said. As "controversial as they are" among Mexicans, the MSCs are necessary because "of the awkward fact that Mexico, a gas-rich country with huge resources, actually has to import 25% of its gas needs from the US," WoodMac analysts said in a report released Dec...
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