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 | 17 bridges collapse as a result of floods in Armenia As a result of floods in Armenia’s northern Lori and Tavush provinces, 17 bridges, including five large ones, have collapsed. Armenia: Top cleric to retain title as he bids to become interim PM Galstanyan said earlier that the interim government would be tasked with stopping the “destruction of our homeland”. Ex-mayor of Karabakh capital arrested in Yerevan Ex-mayor of the Nagorno-Karabakh city of Stepanakert David Sargsyan has been arrested for 20 days. 269 people evacuated amid severe floods in Armenia’s north According to the Interior Ministry, 269 people have been evacuated from their homes in Lori and Tavush provinces. |