LatinNews Regional Monitor: Mexico - 10 September 2018

* Mexico’s President-elect Andrés Manuel López Obrador has said that he plans to increase the country’s oil production to 2.6m barrels per day (bpd) during his six-year term starting on 1 December, up from the current rate of 1.8m bpd. During a press conference that followed a meeting with oil company representatives, López Obrador explained that his government would invest M$75bn (US$3.89bn) in oil exploration and production, but that it would not extract more oil than necessary and would also be investing in renewable energies. López Obrador, who is very critical of the 2013-2014 energy reform enacted by outgoing President Enrique Peña Nieto, which opened up Mexico’s oil sector to increased private sector participation, has made the recovery of the national energy sector one of his key government priorities.   

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