Mexico gives oil companies time for results

Before thinking about new oil industry deepwater auctions, Mexican president Andrés Manuel López Obrador wants to ensure that companies that have obtained contracts under the energy reform are really investing and producing oil and gas.

So far, the promised investments and production have yet to be realized, López Obrador said.

"What we want to know is whether the companies won these contracts invest in them and produce," López Obrador insisted. "We'll call a truce on this for three yers until we see the results."