Oil and gas contracts awarded under the Mexican government's energy reform will be respected by the incoming administration provided no problems emerge in a revision of the process, the man designated to run the finance ministry said on July 4.
Related Article: Expert: Mexico’s Energy Reform Will Continue But With Changes
Leftist Andres Manuel Lopez Obrador won Sunday's vote by a landslide and Carlos Urzua, his choice for finance minister, said the contracts would be honored if everything was in order.
"If it looks good, on we go. It's a contract we have to respect," Urzua told Mexican television.
Urzua and other members of the Lopez Obrador team, including the pick for chief of staff, Alfonso Romo, have said they do not expect the process of revision to reveal problems.
Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824, the lowest since April 2018, Baker Hughes, a GE company (NYSE: BHGE), said in its weekly report.
The independent U.S. energy producer aims to take a final investment decision on the $20 billion project in the coming months, having signed up long-term buyers for its LNG.
The first circulated draft of the much anticipated hydrocarbon law in Algeria, has shown that the government has loosen up the law in a move that aims to attract more foreign investors to the energy sector in Algeria. The question is, will it be passed amid contentious political transition?