Mexico said on Thursday it would cap the number of shallow water contracts companies can bid for as it outlined the tender for the first leg of the country's energy sector opening, but gave on word on how much tax the government will take.Following a sweeping energy reform that ended a 75-year state monopoly, Mexico's National Hydrocarbons Commission (NHC) on Thursday revealed key details of the process to a packed audience including executives from Chevron Corp, Exxon Mobil Corp and Ecopetrol SA.The first contacts are for 14 shallow-water exploration and production (E&P) areas with significant deposits of light crude oil and will pay winning firms with a share of output from projects that Mexican regulators said on Wednesday feature average production costs of about $20 per barrel.Companies or consortia will be limited to bidding on up to five shallow-water areas, the NHC said, and will have to show a track record in offshore oil exploration and production.
Ecopetrol SA is a Colombia-based holding company engaged in the development of commercial or industrial activities related to the exploration, exploitation, refining, transportation, storage and distribution of hydrocarbons and its by-products. Shares of EC fell by 0.84% or $-0.131/share to $15.50. In the past year, the shares have traded as low as $15.51 and as high as $43.07. On average, 740009 shares of EC exchange hands on a given day and today's volume is recorded at 798641.
Ecopetrol SA is a Colombia-based holding company engaged in the development of commercial or industrial activities related to the exploration, exploitation, refining, transportation, storage and distribution of hydrocarbons and its by-products. Shares of ECP traded higher by 1.06% or $0.19/share to $18.08. In the past year, the shares have traded as low as $17.89 and as high as $55.01. On average, 517 shares of ECP.TO exchange hands on a given day and today's volume is recorded at 730.
Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM traded higher by 0.86% or $0.76/share to $89.43. In the past year, the shares have traded as low as $86.91 and as high as $104.76. On average, 13541600 shares of XOM exchange hands on a given day and today's volume is recorded at 14366690.
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