Although highly competitive, IFR through its jointly owned Mexican company Tonalli Energia ("Tonalli") was not awarded any licenses.
(OTCQB: IFRTF) is also listed on the TSX Venture Exchange under the ticker symbol 'IFR'. Over the summer the company announced that, "the results of the Mexican Energy Reform Onshore Bid Round 2.3 completed on July 12, 2017. According to Bloomberg, IEA Executive Director Fatih Birol said in an interview with Bloomberg television: " The United States will be the undisputed leader of global oil and gas markets for decades to come." The IEA predicted in its annual World Energy Outlook that the United States is projected to become the world's largest LNG exporter and a net oil exporter by the end of that decade. Oil price had recovered to a 28-month high above $60 last week due to expectation that the Organization of the Petroleum Exporting Countries and Russia will extend its agreement in oil production cut. (OTC: IFRTF), Encana Corp (NYSE: ECA), WPX Energy Inc (NYSE: WPX), Chesapeake Energy Corporation (NYSE: CHK), Southwestern Energy Company (NYSE: SWN) "A remarkable ability to unlock new resources cost-effectively pushes combined United States oil and gas output to a level 50% higher than any other country has ever managed," the IEA said on Tuesday.
is booming due to technological advances from its shale fields. The IEA predicted that shale-output will increased 34 percent to 9 million barrels a day by 2025. According a recent report published by The International Energy Agency, the United States is expected to become the world's leader in oil and gas production by the mid-2020s as shale production will increase dramatically during the forecast years.
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