December 11, 2018 / 7:00 PM / a month ago

Mexico oil auctions scrapped as leftist government flexes muscles

MEXICO CITY (Reuters) - Mexico’s energy regulator on Tuesday canceled two oil field auctions scheduled for February, after the new leftist government said it would not hand over more resources to private companies until they proved themselves as producers.

The National Hydrocarbons Commission, which runs the auctions and supervises contracts, also said it had delayed until Oct. 9 auctions for joint ventures known as farm-outs between state oil firm Pemex and private players.

Reporting by Adriana Barerra; Editing by Dave Graham

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