AMLO Says Private Oil Output Not Yet Enough to Restart Auctions

Mexican President Andres Manuel Lopez Obrador said that oil output from private companies hasn’t risen to a level that would justify restarting auctions that his administration put on hold.

Lopez Obrador said private companies are only producing 4,000 barrels of crude per day, based on the information he has from state-owned oil company Petroleos Mexicanos. As of two weeks ago, DEA Deutsche Erdoel said on April 15 that production from its well Zama-2 well had climbed to 7,900 daily barrels of crude oil equivalent.

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