Mexico Hands Control of Large Oilfield to Pemex in Dispute With U.S.’s Talos

07/06/2021

Source: The Wall Street Journal

Mexico’s government designated state oil company Petróleos Mexicanos as the operator of a large offshore oil reservoir it shares with a consortium led by Houston-based Talos Energy Inc., which has already invested heavily in the reservoir.

The designation gives Pemex management control of the joint development and comes as nationalist President Andrés Manuel López Obrador steps up efforts to revert key parts of an overhaul in 2014 that opened oil exploration and production to foreign investment.

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