Seeking Alpha

Schlumberger, Halliburton may be early beneficiaries of Mexican oil reforms

  • Schlumberger (SLB) and Halliburton (HAL) posted solid gains today after Mexico said it wants to open the door to greater involvement by foreign companies following a seven-decade state oil monopoly.
  • Oil service companies like SLB and HAL, which do the initial grunt-work and aren't interested in owning reserves, would see the earliest returns, Liam Denning writes; deepwater specialists such as Chevron (CVX) and Statoil (STO) could benefit over time.
  • The reforms are hardly a done deal: The government is launching a public relations effort to convince a skeptical populace that Mexico, the country that invented oil nationalism, won't be selling out to foreigners.
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Comments (3)
  • smurf
    , contributor
    Comments (4916) | Send Message
     
    "Hardly a done deal", indeed. It will never become a reality. Too much anti-gringo nationalism.
    13 Aug 2013, 08:58 PM Reply Like
  • Anne Bonney
    , contributor
    Comments (105) | Send Message
     
    Any stock that I own in a company that does such business with Mexico will be sold off.

     

    "Those who do not remember the past are condemned to repeat it." - George Santayana

     

    Not with my $.
    13 Aug 2013, 10:05 PM Reply Like
  • amondra
    , contributor
    Comments (8) | Send Message
     
    DonĀ“t forget Pacific Rubiales and Repsol are also other oil firms interested in.
    14 Aug 2013, 09:16 AM Reply Like
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