<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-013X</journal-id>
<journal-title><![CDATA[Foro internacional]]></journal-title>
<abbrev-journal-title><![CDATA[Foro int]]></abbrev-journal-title>
<issn>0185-013X</issn>
<publisher>
<publisher-name><![CDATA[El Colegio de México A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-013X2025000100047</article-id>
<article-id pub-id-type="doi">10.24201/fi.3175</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[¿A cualquier precio? Prioridades políticas y retornos económicos en las licitaciones petroleras mexicanas (2014-2017)]]></article-title>
<article-title xml:lang="en"><![CDATA[At any price? Political priorities and economic returns in mexican petroleum licensing rounds (2014-2017)]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Boué]]></surname>
<given-names><![CDATA[Juan Carlos]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Curtis, Mallet-Prevost, Colt &amp; Mosle LLP  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>United Kingdom</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2025</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2025</year>
</pub-date>
<volume>65</volume>
<numero>1</numero>
<fpage>47</fpage>
<lpage>81</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-013X2025000100047&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-013X2025000100047&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-013X2025000100047&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: La liberalización del sector petrolero representa uno de los cambios más significativos en la política económica mexicana en las últimas décadas, pero hay pocos estudios que evalúen de forma sistemática sus logros contra sus promesas. Este artículo se enfoca en uno de sus componentes claves: las licitaciones petroleras (2014-2017). Se argumenta que el diseño institucional de éstas subordinó su racionalidad económica al objetivo político de abrir el sector a toda velocidad, aun en un entorno de precios internacionales del petróleo adversos, en un intento de asegurar la irreversibilidad de la reforma. A partir de una perspectiva comparada, se muestra que el uso de mecanismos contraindicados para subastas (límites máximos tanto para las regalías adicionales como para los porcentajes de reparto de utilidades que podían ofrecerse, así como restricciones autoimpuestas respecto de la recaudación de bonos en efectivo), afectó adversamente los potenciales retornos económicos que el Estado podría haber obtenido mediante la liberalización; se explica también por qué los ingresos públicos generados en las subastas petroleras fueron sensiblemente menores a los registrados en otros países durante el mismo periodo.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: The liberalization of the oil sector represents one of the most significant changes in Mexican economic policy in recent decades, but few studies have systematically evaluated its achievements against its promises. This article focuses on one of its key components: the oil bidding rounds (2014-2017). It argues that their institutional design subordinated economic rationality to the political objective of opening the sector at full speed, even in an adverse international oil price environment, in an attempt to ensure the irreversibility of the reform. From a comparative perspective, it shows that the use of contraindicated auction mechanisms (maximum limits for both additional royalties and the profit-sharing percentages that could be offered, as well as self-imposed restrictions regarding the collection of cash bonuses) adversely affected the potential economic returns of liberalization for the state. The article also explains why the public revenues generated in the oil auctions were significantly lower than those recorded in other countries during the same period.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[liberalización]]></kwd>
<kwd lng="es"><![CDATA[sector petrolero]]></kwd>
<kwd lng="es"><![CDATA[parámetros de licitación]]></kwd>
<kwd lng="es"><![CDATA[renta petrolera]]></kwd>
<kwd lng="es"><![CDATA[exploración y produccción de petróleo]]></kwd>
<kwd lng="en"><![CDATA[liberalization]]></kwd>
<kwd lng="en"><![CDATA[oil sector]]></kwd>
<kwd lng="en"><![CDATA[bidding parameters]]></kwd>
<kwd lng="en"><![CDATA[oil revenue]]></kwd>
<kwd lng="en"><![CDATA[oil exploration and production]]></kwd>
</kwd-group>
</article-meta>
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