Reuters reveals Mexican oil regulator cancels October auctions to pick Pemex partners

Reuters reported exclusively that Mexico’s oil regulator planned to cancel October auctions to pick joint venture partners in seven onshore areas for state-run energy 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.