Mexico’s Lopez Obrador pushes Big Oil to hurry, but offers little [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
At his first meeting with foreign oil majors, Mexico’s leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources say, but gave no sign of offering up new fields to reverse dwindling output. President-elect Andres Manuel Lopez Obrador repeated a promise to respect more than 100 existing contracts awarded following a sweeping five-year-old energy overhaul as long as a review by his team finds no corruption. And he added: companies must show results, three executives who attended the meeting said. For U.S. independent Talos Energy , which is developing a high-profile, big offshore discovery announced last year along with partners Premier Oil and Sierra Oil & Gas, Lopez Obrador’s message was clear: quickly bring new streams of production online. Story continues below advertisement “We know we have to exceed expectations and we’re trying to make sure we do that,” said Talos Energy CEO Tim Du
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