Royal Dutch Shell snapped up nine of 19 Gulf of Mexico oil and gas blocks awarded in a Mexican auction on Wednesday, as the global oil major ramped up its big bet on Latin Americaâs deep waters. The auction raised an estimated $93 billion in investment for Mexico and was the biggest since the countryâs energy sector opened to foreign firms in 2014. The stakes were high for Mexican President Enrique Pena Nieto and his struggling party, which wants to showcase the results of its energy liberalisation ahead of a presidential election in July. With oil prices at a three-year high, conditions were better for this auction than any of the previous eight sales in Mexico since 2015, lending weight to Pena Nietoâs argument that opening up the sector would bring the investment needed to turn around a dilapidated state-run oil and gas industry. See related article: Mexico's deep water oil sale: Winners and bidders Click here for full Reuters article Source: Reuters 
Royal Dutch Shell snapped up nine of 19 Gulf of Mexico oil and gas blocks awarded in a Mexican auction CNH-RO2-LO4/2017 Bid Round or Ronda 2.4