“Among the majors, there’s definitely a disillusionment and disappointment for how things are evolving in the sector, which wasn’t what many expected” when they invested in Mexico, said Alfredo García, managing director at Siete Energy and 31-year veteran in oil and gas exploration and development services. 

“I think the reasons for inactivity or abandoned projects in Mexico is a result of uncertainty, and above all, the uncertainty generated by the announcement that the government seeks to disappear the regulators,” García added. “When you move an independent regulator into the hands of the state and Energy Ministry, legal certainty disintegrates.”

García has served as the executive managing director at Siete Energy since 2019, where he focuses on energy...