BP is selling its oil assets in Mexico as it seeks to focus even more on its renewable energy business. The political environment in the country is another reason for the decision, Bloomberg reported. BP has already sold some of its stakes in Mexican oil projects and is currently returning some blocks it won at auctions to the Mexican oil industry regulator, a company representative told Bloomberg.
Like other supermajors, BP entered Mexico during the administration of Enrique Peña Nieto, which enacted sweeping reforms aimed at opening up…BP To Sell Mexican Oil Assets As It Ramps Up Renewable Business
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