BP sees early promise, growing investment in Mexico energy
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BP Plc's first foray into Mexico's recently opened energy market is proving more promising than expected, and the government should offer more big projects to lure investment, the British oil major's Mexico boss said. Chris Sladen, country manager for Mexico, said BP expects to increase investment in everything from exploration to retail fuel sales, and looks forward to partnering with state oil company Pemex after losing an early chance for a lucrative tie-up. The British firm is already involved in three offshore projects, two in the Gulf of Mexico's deep waters and another in shallow waters. Sladen said initial company investment could total many hundreds of millions of dollars.