Mexico's new leader puts bid rounds on hold
The new administration puts its faith in Pemex with expanded E&P budget
New Mexican President Andrés Manuel López Obrador, after a campaign that vowed sweeping changes, wasted little time in office before cancelling February's planned licensing auctions. The scheduled bid rounds have been delayed for potentially three years while the government reviews existing contracts and proof of improving production. But investor fears of a total reversal of energy reforms have eased slightly. Existing contracts will still be respected, despite López Obrador's criticism during the electoral race of the private sector. Since 2013, the reforms have brought in investment upwards of $100bn, through sales of more than 80 blocks to 70 companies, but failed to significantly boost
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
