Mexico Starts Oil Contract Reviews With Talos-led Deal

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.

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% stake, and Premier Oil, which has 10%, did not respond by Sept. 18 to requests for comment.

The CEO of Sierra Oil & Gas, which holds a 45% stake in the project, welcomed the review.