Renaissance Oil Corp. reports that Mexico’s president-elect, Andres Manuel Lopez Obrador, who will take office on December 1, 2018, assured private energy executives on September 27, 2018 that their contracts will not be canceled if they meet existing terms.

During the meeting with AMEXHI, Mexico’s association of oil and gas producers, of which Renaissance is a member, Mr. Lopez Obrador underlined the importance of the private sector’s participation in developing the oil and gas sector in Mexico and its important role in increasing production in the following years.

Further, Mr. Lopez Obrador’s designated Energy Minister, Rocio Nahle, confirmed the incoming administration’s support for the contracts as well as a commitment to resolving regulatory delays. 

Craig Steinke, Renaissance CEO, stated, 
"Renaissance is reassured by these developments and encouraged the Mexican government is supportive of the important role international oil companies, like Renaissance, play in the development of the Mexican petroleum industry." 

Renaissance continues to make progress on its journey to become a major Mexican energy producer.