BP contemplates new business in Mexico; highlights its solar and wind resources

Biofuels, green hydrogen, solar and wind energy, as well as electro mobility, are areas where the British BP has been concentrating for some years in the world to reach zero emissions, and Mexico is on the company's map.

Angélica Ruiz, president and general manager of BP in Mexico, said that she is analyzing all the scenarios in the country, as she highlighted that the fundamentals are extraordinary.

"Wind and solar energy have a capacity of over 40% in many areas such as Tamaulipas and Oaxaca, without a doubt, this is one of the possibilities," said Ruiz, who is also BP's vice-president for Latin America.

So far, the company participates in Mexico in the fuel market with service stations and oil imports, and in the oil and gas sector with its partner Pan American Energy.

Ruiz also highlighted the issue of electromobility in Mexico, where they also see an opportunity, as a lot of technology has to be developed and it is an issue that is being promoted by the United States.

He added that for Mexico, manufacturing is one of the great economic engines and the country "naturally" can be one of the suppliers.

During the presentation of the BP Energy Outlook 2023, Angelica Ruiz pointed out that one of the important aspects in Mexico is the impact on the reduction of technology costs to produce clean energy, as has been seen in the renewable energy sector, and the same will happen with green hydrogen.

While BP is moving towards decarbonization and zero emissions, he points out that hydrocarbons are still a core part of most economies, but there needs to be a different approach.

"We think that hydrocarbon production now has to focus on the energy trilemma, that is, hydrocarbons that are sustainable, with lower emissions and that are accessible. Undoubtedly, all energies are complementary, so BP's transition from being an oil company to an integrated energy company is complementary, where there is room for all energies," said Ruiz.