Mexico Oil Auctions Scrapped As Leftist Government Flexes Muscles

Mexico’s energy regulator on Dec. 11 canceled two oilfield auctions scheduled for February, after the new leftist government said it would not hand over more resources to private companies until they proved themselves as producers.

The National Hydrocarbons Commission, which runs the auctions and supervises contracts, also said it had delayed until Oct. 9 auctions for joint ventures known as farm-outs between state oil firm Pemex and private players.