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Share Price Information for BP (BP.)

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Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
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UPDATE 1-Mexican judge orders partial freeze of new hydrocarbons law

Mon, 10th May 2021 18:59

(Adds detail on ruling)

MEXICO CITY, May 10 (Reuters) - 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)

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