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New blow to Mexico energy reform

Friday, June 14, 2019

Mexico’s oil regulator announced on Thursday the cancellation of October auctions to pick joint-venture partners in seven onshore areas for state oil company Pemex, which is struggling to reverse more than a decade of falling crude output.

The move represents a fresh blow to the flagship energy reforms of Mexico’s previous government that had allowed Pemex to partner with private oil companies for the first time in an effort to boost production, Reuters reports.