Mexican national oil company Pemex on Dec. 8 blamed the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite due to competition from recent auctions in Brazil and low oil prices.
The country’s oil regulator on Dec. 7 canceled a tender for its Nobilis-Maximino project, a joint venture with Pemex, as company interest was not as robust as initially expected.
On Dec. 8 Pemex cited a late October deepwater oil auction in Brazil for lessening interest in its project. Six of eight blocks in Brazil were awarded to majors, including Royal Dutch Shell and ExxonMobil.
Brazil Energy Insight 
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