Mexican oil regulator approves force majeure for Renaissance field

07/13/2017 Reuters

oil wellMEXICO CITY, July 13 (Reuters) – Mexico’s oil regulator approved on Thursday a force majeure request from Canada’s Renaissance Oil Corp that will allow the firm to suspend operations at its onshore Ponton area while a dispute over environmental damages at the site plays out.

Renaissance has claimed that environmental damages that pre-date its operations at Ponton have impeded its development plans.

Renaissance won development rights for the Ponton block at auction last year.

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