Oil production in Mexico, on the rise

Mexico’s oil production has “good prospects for growth, thanks to private investments that have already been committed,” said the country’s wealthiest businessman, Carlos Slim Helu.

Although Mexico’s oil reserves were heavily overexploited at the beginning of the 21st century, it is believed that there are still abundant reserves, though they require deep-well exploration

Slim noted that Mexico requires US$2.8 billion in annual infrastructure investment due to the backlog from previous years; therefore, it is important to develop and finance this infrastructure. The businessman also noted that there is currently a very clear strategy in place to boost private investment in Mexico.

Regarding the review of the USMCA and the trade relationship between Mexico and the United States, the owner of companies such as Telcel, Telmex, and Grupo Sanborns commented that both countries “are complementary, so trade between the two nations will continue, regardless of which treaty is in place.”