Some would-be bidders in Mexico’s first oil license auction are resisting guarantee requirements in an impasse that threatens to reduce competition in the country’s energy liberalization. Rules require each bidding group to have one partner to act as guarantor, and for that company to maintain shareholder equity, or total assets minus liabilities, of at least $6 billion. The stipulation of a single guarantor, rather than sharing the burden among partners, is proving prohibitive for some companies.
Brazil Energy Insight 
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