US service firms eye increased sales to Mexico

Journal Article · Mon May 18 04:00:00 EDT 1992 · Oil and Gas Journal; (United States)

OSTI ID:5356593

This paper reports on American service supply companies which hope the pending U.S.-Mexico free trade agreement will step up their sales of goods and service to Petroleos Mexicanos. They testified at a House foreign affairs subcommittee hearing on the oil aspects of the FTA and commented on a recent General Accounting Office report. Rep. Sam Gejdenson, (D-Conn.), subcommittee chairman, has been critical of FTA negotiations because it appears they will not open the Mexican oil sector to U.S. firms. Mexico's constitution bans foreign firms from owning Mexican reserves. It has been stated that the U.S. oil industry needs the business. The industry, particularly drillers, contractors, and manufacturers of oil equipment, has been hurting for more than 10 years now. They have lost more than 356,000 jobs in this sector in the last decade more than have been lost in the entire U.S. auto industry. Access to trade and investment in Mexico's oil sector could mean the difference between profit and bankruptcy for tens of thousands of small and medium size oil service contractors.

• OSTI ID: 5356593
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 90:20; ISSN OIGJA; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
CONTRACTS
COOPERATION
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
GEOLOGIC DEPOSITS
INDUSTRY
INTERNATIONAL COOPERATION
INVESTMENT
LATIN AMERICA
MEXICO
MINERAL RESOURCES
NORTH AMERICA
OIL FIELDS
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
RESOURCE POTENTIAL
RESOURCES
TRADE
USA