AMLO makes headway towards reinstating Mexicoâs state energy monopoly By Amy Stillman on 4/15/2021
Mexico s President Andres Manuel Lopez Obrador
MEXICO CITY (Bloomberg) Mexican President Andres Manuel Lopez Obradorâs controversial proposal to tighten control over the countryâs fuel market has cleared the lower house of congress, another step in his long-sought goal of resuming the stateâs energy monopoly.
With 271 lawmakers in favor, 134 opposed, and 8 abstaining in the final vote, the chamber approved the presidentâs proposal to give national oil company Petroleos Mexicanos greater control over the recently liberalized fuel market that lured investments from Royal Dutch Shell Plc, BP Plc, Chevron Corp. and Exxon Mobil Corp. The bill will now be taken up by the senate, where the ruling Morena party and its allies have a majority.
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