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Shell cautious on Mexico's oil reforms

Oil major Shell hasn’t been won over by Mexico’s oil reforms yet, with much public sector work to be done

The government needs to do more to make investment in the country attractive ahead of the deep-water licensing round, says Greg Guidry, an executive at Shell's upstream Americas business. “It’s a very difficult time to be opening up a country given the macro conditions, but I would also say that the framework at this point just does not generate the attractiveness that you really need to enter a country,” Guidry told the North America Gas Conference in Washington DC in October. Guidry pointed to the security risks in particular as well as the lack of infrastructure needed to develop major new projects. Security has been a major concern for companies looking to enter Mexico’s oil patch as t

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