26 Feb 2014 More

Big Opportunities Opening Up in Mexico, PEMEX

posted by Unknown @ 13:38 0 Comments

Image of PEMEX rigs
Mexico is ending its 75-year-old law that forbids foreign involvement and investment in its oil business.  The state-run oil company, PEMEX, the fifth largest oil company in the world, is now open for business.  The First Titan Corp. of Miramar Beach, Florida says it will begin exploring opportunities in the oil-rich nation.

The Mexican Congress just recently passed a bill to open up the country to new foreign investment and American companies have been quick to begin exploring the possibilities.  Analysts believe that Mexico is second only to the Arctic region when it comes to untapped crude oil reserves in North America.

For First Titan, the new opportunity plays right into its aggressive business plan with acquisitions already in Texas, Oklahoma, Louisiana and Alabama.

“We have been closely monitoring the situation in Mexico, and we believe the decision by Mexico’s Congress to pass that bill is a win-win,” says Fits Titan Interim CEO Robert Federowicz. “The foreign investment that will come with Mexico opening up its oil fields will offer a significant boost to their economy, while also providing forward-thinking, proactive companies such as First Titan Corp. an opportunity to further broaden their asset bases. The Company is currently exploring acquisition and joint venture opportunities in Mexico.” 

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