Mexican oil auctions on hold until review-Lopez Obrador

Mexican oil auctions are suspended until contracts already awarded over the past few years have been reviewed, President-elect Andres Manuel Lopez Obrador said on Friday.

"They are suspended right now until the contracts are reviewed," Lopez Obrador told reporters.

To date, more than 100 exploration and production contracts have been awarded to foreign and private oil companies following the enactment of a 2013 constitutional energy opening championed by the outgoing government of President Enrique Pena Nieto.

In July, the Mexican oil regulator postponed oil auctions planned for later this year until February, by which time Lopez Obrador will be in power. He takes office in December.

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