Mexico Shelves Oil Auctions Until After Leftist Leader Takes Office

Mexican oil auctions originally set for later this year will be postponed until February, Mexico’s oil regulator said on July 18, allowing time for leftist President-elect Andres Manuel Lopez Obrador to take office.

During the campaign, Lopez Obrador said he would request a pause in auctions to allow his team to check for corruption in oil and gas contracts already issued to private and foreign companies.

Lopez Obrador takes office in December following his landslide election victory on July 1. The auctions are scheduled for Feb. 14.