Mexico Front-Runner Sees ‘No Drastic Change’ in Oil Opening
- AMLO adviser: It would be an ‘error’ to reverse energy reform
- Administration plans to construct two new oil refinieries
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Key advisers for Mexico’s presidential front-runner Andres Manuel Lopez Obrador are united in their message to the country’s energy industry: don’t worry.
Amlo, as Lopez Obrador is known, spooked the energy industry last year by stating he would review the oil contracts won in the current administration if elected president, generating fear within Mexico’s fastest growing industry. The country’s oil sector only re-opened to private competition in 2013, after state-owned Petroleos Mexicanos held a monopoly over crude production since 1938.