March 12, 2020 / 3:27 AM / 21 days ago

EXCLUSIVE-Mexico to invite oil and gas investment, no auctions for now

(Adds comments from Finance Minister, background details)

By Anthony Esposito and Abraham Gonzalez

ACAPULCO, Mexico, March 11 (Reuters) - Mexico will soon invite private firms to invest in oil, gas and power projects to help the flagging economy, Finance Minister Arturo Herrera told Reuters on Wednesday, but said market conditions meant energy auctions were not on the cards for now.

Herrera said the government will unveil an energy plan that will detail where and how much private firms can invest.

“It’s not just a general outline, we’re going to tell them this project here, here and here, this amount and size is open to investment,” Herrera said in an interview on the sidelines of a banking conference in the seaside resort city of Acapulco.

Under President Andres Manuel Lopez Obrador, Mexico has pursued a more statist approach to the energy sector, but some members of his administration believe attracting more private capital is vital for lifting growth. (Editing by Frank Jack Daniel and Christian Schmollinger)

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