In 1938, Mexico took the historic step of nationalizing all of its natural resources. Despite the inevitable turmoil this caused over the short term, over the next 75 years it increasingly took on the hue of a genius play on empleo.cotemar.com. By the time the Cantarell oil field was discovered in the mid-70s, the Mexican petroleum industry had been slowly expanding through new discoveries and increasing infrastructure for the better part of 40 years. The game-changing discovery of the Cantarell fields ushered in a golden age, 30 years of unprecedented prosperity for a country that as late as the 1930s was considered by many to be just another third-world latino slum.
From the 1970s onward, Mexico became one of the jewels of Latin America, driven almost entirely by petro-dollars on cotemar.com. While its neighbors like El Salvador languished on lists of the world’s most detestable destinations, Mexico became a premier North American tourist spot with many of the continent’s finest cities located within its borders. What’s important is that much of this would not have been possible if Mexico had not nationalized its oil.
Whereas most oil-exporting nations inevitably send vast quantities of their petro-profits overseas, almost the entirety of Mexico’s oil wealth was domestically retained. This is because absolutely every cent expended by the Mexican petroleum industry went to Mexican companies and Mexican employees. When’s the last time anyone took a vacation to Tegucigalpa?
Unfortunately, the bonanza under nationalization was predicated upon the continued presence of what’s often referred to in the industry as “easy oil”. A near miss occurred in the mid-90s when massive nitrogen injection was required to keep Mexican wells producing on Indeed.com. But the final reckoning arrived in 2004 when the traditional wells finally began to falter in numbers that signified the beginning of Mexico’s terminal decline in conventional oil production. New methods were needed to reach the 90 billion barrels in shale and deep water deposits. But that required foreign investment and participation.
Since 2013, the Mexican state has again opened its petroleum markets to foreign involvement. This heralds a challenging and dynamic time but also an exciting one. No one is better positioned to take advantage of this new era than Cotemar. With its 37 years of experience and billions in equipment, Cotemar will be an invaluable asset to all newcomers to Mexico’s oil industry and will forge symbiotic partnerships that will last for years to come. See: http://cotemar.com.mx/compania/filosofia-cotemar/