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UPDATE 1-Mexican judge orders partial freeze of new hydrocarbons law

05/10/2021 13:59
UPDATE 1-Mexican judge orders partial freeze of new hydrocarbons law

Adds detail on ruling

- A Mexican judge has ordered a partial provisional suspension of new hydrocarbons legislation championed by President Andres Manuel Lopez Obrador that gave the state authority to revoke permits, a court document seen by Reuters showed on Monday.

The decision suspended certain parts of the law that strengthens state oil company Petroleos Mexicanos (Pemex), which Congress approved last month, the document showed.

The judge's ruling paused provisions in the legislation that would allow authorities to cancel permits or occupy installations of permit holders, the court document said.

It also prevents authorities from revoking permits that fail to comply with minimum storage requirements set by the government when the law was enacted last week, a provision which analysts said only Pemex was well placed to satisfy.


(Reporting by Adriana Barrera; Editing by Aurora Ellis)

(([email protected]; +52 55 5282 7146; Reuters Messaging: [email protected]))