The buzz is “Falling energy prices” these days but it looks as though Big Oil Companies such as EXXON and others like it are not afraid of the projections in the immediate future. Instead it looks as though they have their eye on the bigger picture. Investing in Mexico’s oil fields is looking pretty good right now…..
According to Mark Albers, senior vice president of Exxon Mobil, tumbling oil prices should not be a turnoff for the company’s interest in Mexico.
“We take a long term view,” he said, in answer to a question from the FT at a business conference, writes Jude Webber in Quéretaro.
“I wouldn’t rule out any resource type based on today’s prices – it’s a longer term view than that,” he said. (courtesy of the APP)
EXXON it is said is considering a considerably scaling range of crude and natural gas prices and are taking the long-term perspective in this endeavor. EXXON seems to be focused on becoming the lowest cost producer for all resource types in an effort to maintain consistency and not suffer an impact by what might otherwise be fluctuating prices.
Mexico is expected to announce fiscal terms for the first bidding rounds in November; falling prices put the onus on Mexico’s government to take care the terms are competitive.