A document seen by Reuters , drafted by advisors to incoming Mexican president Andres Manuel Lopez Obrador (AMLO), proposes withdrawing Mexico from the International Energy Agency (IEA) and moving closer to OPEC. The proposal also calls for scrapping future oil and gas auctions, which would close off Mexico’s oil and gas reserves to international companies beyond what was already awarded. Unlike previous reports , which suggested that AMLO’s government might suspend auctions for two years, the document seen by Reuters calls for an indefinite suspension of new auctions. The move would be a nearly 180-degree turn from the current government of President Enrique Pena Nieto, whose legacy will be defined at least in part by the reforms and partial privatization of Mexico’s energy sector, while stopping short of complete reversal, which would require constitutional changes. Over 100 contracts were inked with international oil and gas companies, and Pena Nieto’s […]