Majors Press Mexico to Resume Oil Auctions

Big oil companies operating in Mexico have launched a drive to convince leftist President Andres Manuel Lopez Obrador to resume auctions of oil and gas contracts he has branded a failure in reviving the industry.

Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell Plc, among other firms in Mexico’s Association of Hydrocarbon Companies (Amexhi), say they have met output targets and investment pledges worth hundreds of millions of dollars in the initial phases of their contracts.

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