The Swiss trading group Trafigura along with Mexico’s state-owned power utility CFE were awarded contracts to market oil and gas on behalf of the Mexican government and Mexico’s National Hydrocarbon Commission (CNH).
The scope of the contract is that both companies will sell all the output from fields from January 1, 2018, until December 31, 2020. The marketers will pass on the profit to the Mexican government, which would then distribute it to the field operator and the Mexican Oil Fund.
Toward 2020, Trafigura could potentially market at least 150,000 b/d of oil from projects currently under development and were granted under the shared production contracts.
CNH said that both the winning companies offered the best economic conditions to the Mexican government.