Oil jobs in Iran

Iran, another oil problem for Mexico

His return to the energy market mean that the price per barrel remains under for longer; Iran has low production costs per barrel of oil. Iran has the fourth largest proven oil reserves in the world.

Iran has the fourth largest proven oil reserves in the world.

The expectation that Iran get the West to remove economic sanctions against it, particularly for its oil exports, has become another factor for that fuel prices remain low for longer, and could force Mexico to better sell their comparative advantage after the opening of the sector, experts warned.

Iran has the fourth largest oil reserves proven in the world, with 157,800 million barrels, the second of natural gas, with 1.20 trillion cubic meters, according to the Energy Information Administration of the United States (EIA, for its acronym in English).

Iran is another advantage of having low production costs, since each barrel costs about seven dollars compared to an average of $ 22 for Mexico.

If a global agreement is reached, the reinstatement of more Iranian barrels could weaken the US crude [the West Texas Intermediate (WTI) and benchmark for the Mexican mix] between 5 and 15 dollars per barrel (dpb) for 2016, by what would trade on average between 65 and 55 dollars, from a previous 70 DPB, the EIA said.

"Iran is a heavy weight and returned to the ring. Is one of the largest producers with low costs (...) If you return more pressures are expected to keep the price low, if waiting 36 months (low prices) may be about 58, "he said in an interview CEO of the consultancy GMEC, Gonzalo Monroy.

Analysts estimate that Iran has stored about 30 million barrels and the EIA said it will try to move these stocks in the second half of 2015 in preparation for increased production. This will generate oversupply in a market that has suffered from the price war between the United States and Saudi Arabia.

Mexico will have to better promote its comparative advantages through Round One awaited energy reform, according to the consultant, David Shields, he has lost appeal before the reduction in oil prices.

"I see very difficult for prices recover, do not bet on that, there is much supply," said Shields.

Iran and Group 5 + 1 (US, UK, Russia, France, China and Germany), reached a preliminary agreement for Iran to agree to reduce their nuclear capacity.

According to Monroy, though Iran has a geology and more attractive prices, Mexico has better investment conditions should harness and promote better.

While Mexico has just liberalize the sector, the Iranian constitution prohibits foreign investment or ownership of its natural resources, as well as all production-sharing agreements.

The country recently announced a new model contract called Iranian Oil Agreement, still subject to change, aimed at attracting foreign investment similar to production sharing scheme.

"Sanctions have a condition, they are not permanent and perpetual, when it fulfills the treaty of non-proliferation of nuclear weapons should be lifted," he explained the director of the Department of Law and International Relations of the Tecnologico de Monterrey, Campus City of Mexico, Iliana Rodriguez.

He added that Barack Obama seeks to consolidate its image of resolving conflicts through diplomatic channels in addition to disempower Saudi Arabia to decide on prices.

The deadline for a final deal is the next July 1, a period in which Barack Obama will seek to have a framework agreement and prevent the Republican opposition end with the talks.