Mexico's next government starts oil contract reviews with Talos-led deal

Mexico’s next government starts oil contract reviews with Talos-led deal

MEXICO CITY (Reuters) – 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. Mexico’s President-elect Andres Manuel Lopez Obrador waves while arriving to his campaign headquarters in Mexico City, Mexico September 13, 2018. REUTERS/Henry Romero/File Photo

Set to become Mexico’s first leftist leader in modern history when he takes office in December, President-elect Andres Manuel Lopez Obrador vowed during the campaign to review all oil contracts awarded under his predecessor for signs of corruption.

He won a landslide election victory in July.

Officials with Talos Energy, which also holds a 45 percent stake, and Premier Oil <( PMO.L )>, which has 10 percent, did not respond by Tuesday to requests for comment.

The chief executive of Sierra Oil & Gas, which holds a 45 percent stake in the project, welcomed the review.

“They should check everything,” said Sierra CEO Ivan Sandrea in an interview. “Along with the entire industry, I’m most interested that they clear up all of their thoughts that there was manipulation.”

The consortium secured development rights for two blocks in 2015 during the first oil auction launched by the outgoing government of President Enrique Pena Nieto, following a landmark energy overhaul that ended the decades-long monopoly enjoyed by national oil company Petróleos Mexicanos [PEMX.UL], known as Pemex.Last year, the consortium, which also includes Britain’s Premier Oil and Mexico’s Sierra Oil & Gas, said its Zama-1 well drilled in the Area […]

MEXICO CITY (Reuters) - Mexico’s incoming government has begun its promised review of oil contracts, starting with a major project won . . .

Follow Us On Google News | Get Our Newsletter



Trending News on PVDN

  • sargassum-slams-cancun-playa-restaurantsSargassum Crisis in Cancún and Playa del Carmen Forces Restaurants and Beach Clubs to Cut Staff Businesses in Cancún and Playa del Carmen report steep losses due to sargassum, with restaurants losing diners and beach clubs sending staff on unpaid leave. Restaurants and beach clubs along the shores of Puerto Juárez in Cancún and Playa del Carmen are grappling with a sharp downturn in business due to a relentless invasion of…
  • tropical-storm-erick-warnings-mexico-coastHurricane Erick will bring heavy rains to Puerto Vallarta Hurricane Erick Puerto Vallarta will bring heavy rains to Puerto Vallarta by Friday but poses no risk to the northern coast of Jalisco. Meteorologist Víctor Manuel Cornejo López, of the Civil Protection scientific committee for the Bay, reports that Hurricane Erick will deliver significant rainfall to Puerto Vallarta without threatening the region’s safety. According to…
  • puerto-vallarta-flooding-landslide-hurricane-erickHeavy rains flood Puerto Vallarta streets and trigger landslide in tunnel Flooding from remnants of Hurricane Erick paralyzed key roads in Puerto Vallarta and caused a landslide in the Luis Donaldo Colosio tunnel, Civil Protection continues damage assessment. The city of Puerto Vallarta was overwhelmed Thursday night by heavy rainfall that caused major flooding, stranded vehicles, and triggered a landslide in the Luis Donaldo Colosio bypass…
  • huracan-erick-2025-mexico-peligroHurricane Erick Becomes Eastern Pacific’s Strongest Cyclone of 2025, Eyes Mexico’s Southwest Coast Hurricane Erick rapidly intensified off Mexico’s Pacific coast, becoming the second hurricane of the 2025 season and threatening southwestern Mexico with dangerous wind, rain, and storm surge. This story is available in Spanish: El huracán Erick se fortalece rápidamente y amenaza la costa suroeste de México The 2025 eastern Pacific hurricane season continues to surge…
  • hurricane erick damagePuerto Escondido and Pinotepa Nacional suffer severe damage from Hurricane Erick (VIDEO) Hurricane Erick caused widespread destruction in Oaxaca's coastal towns, including Puerto Escondido and Pinotepa Nacional, with downed power lines, flooding, and road closures. Oaxaca’s southern coast is reeling after Hurricane Erick made landfall early Thursday morning, slamming into Santiago Pinotepa Nacional at 5:30 a.m. with maximum sustained winds of 205 kilometers per hour. Although the…
  • Arrivals at Puerto Vallarta airport increases nearly 50 in JanuaryAirlines warn of possible flight delays and cancellations in Puerto Vallarta Airlines warn of possible flight delays and cancellations in Puerto Vallarta, Guadalajara, Mexico City, and more due to Hurricane Erick. Flexible travel policies are now in place. Puerto Vallarta, Jalisco — Travelers passing through Puerto Vallarta International Airport and other major airports across Mexico may experience delays or cancellations due to the ongoing effects of…
  • Know your consumer rights in Mexico Is it legal for restaurants to include the tipPuerto Vallarta restaurants face 33 percent staff shortage Restaurants in Puerto Vallarta face a 33% staffing shortfall as they prepare for a busy summer holiday season, aiming to boost sales by up to 60% despite ongoing labor challenges. As Puerto Vallarta prepares to welcome a surge of summer tourists, the city’s restaurant sector is grappling with a serious staffing problem—operating with roughly one-third…
  • tropical-storm-erick-hurricane-watch-southern-mexicoTropical Storm Erick Strengthening as Hurricane Watch Issued for Southern Mexico Tropical Storm Erick is forecast to become a hurricane before making landfall in southern Mexico. A Hurricane Watch is now in effect from Bahias de Huatulco to Punta Maldonado. Tropical Storm Erick continues to gather strength off Mexico’s southern Pacific coast and is forecast to become a hurricane by Wednesday, according to the latest advisory…
  • puerto-vallarta-flooding-first-storm-2025Puerto Vallarta hit by flooding, fallen trees, and damaged roads after first storm of the season Heavy rain and a nighttime storm caused widespread flooding, road closures, and downed trees in Puerto Vallarta. Several key roads remain impassable. PUERTO VALLARTA — The first major storm of the rainy season swept through Puerto Vallarta overnight, leaving behind extensive damage across the city, including widespread flooding, blocked roads, and fallen trees. By morning,…
  • american-woman-drowns-santa-maria-los-cabosAmerican Woman Drowns at Closed Beach in Los Cabos Despite Black Flag Warning A 57-year-old American woman drowned at Santa María Beach in Los Cabos, Baja California Sur, on June 17, despite black flag warnings indicating the beach was closed due to dangerous conditions. Los Cabos, Baja California Sur – Tragedy struck the beaches of Los Cabos on the afternoon of June 17, when a 57-year-old American woman…
Scroll to Top