AMLO Inches Toward Undoing Energy Opening to Keep Pemex Grip
- Mexican president writes memo suggesting new energy laws
- Pemex seen expanding output to 2.2m barrels per day by 2024
This article is for subscribers only.
President Andres Manuel Lopez Obrador said Mexico may need to change the rules governing the country’s energy industry and reverse the opening to private companies to save state oil giant Petroleos Mexicanos, according to a memorandum seen by Bloomberg News.
In a July 22 document addressed to government officials and energy regulators, Lopez Obrador writes that a constitutional change should not be ruled out in order to reach the “higher goal” of his administration: recover Mexico’s control over its oil and electricity industries, including state owned Comision Federal de Electricidad, or CFE.