Mexico opens up its oil industry to foreign investorsJuly 16, 2015 - 08:28 AMT PanARMENIAN.Net - For the first time in nearly 80 years, Mexico has opened up its oil industry to foreign investors, selling off 14 exploration blocks in the Gulf of Mexico. However, only two of the blocks were sold in the auction, falling short of the government's expectations. Bidders were expected to sign new contracts with the Mexican state to explore, produce and refine oil. Mexico has fallen from the world's fifth biggest oil producer to tenth. Such auctions are part of the government's plan to encourage private investment and boost oil production. Only nine companies took part in the auction, fewer than the 25 originally planned. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |