MEXICO CITY—Mexico's oil regulator announced on June 13 the cancellation of auctions set for October to pick joint-venture partners for national oil company Pemex in seven onshore areas.
The cancellation was requested by Pemex, and marks a fresh blow to an energy reform enacted by Mexico's previous government that allowed the firm to partner with private oil companies for the first time in a bid to reverse declining crude output.
The regulator's announcement to cancel the tenders confirmed a Reuters report from earlier in the day.
Japan’s Toshiba Corp. will exit its U.S. LNG business by paying China’s ENNEcological Holdings Co. more than $800 million to take over the unit as part of a plan to shed money-losing assets.
Mexico’s incoming government has begun its promised review of oil contracts, starting with a major project won by a consortium led by U.S.-based Talos Energy, the country’s next energy minister said.
Felix Energy, an oil producer with operations in the Permian Basin, is exploring a sale that could value the company at more than $3.5 billion, Reuters reported unnamed sources said.