Mexico Moves Closer to Fuel Controls With AMLO’s Bill Approval

04/14/2021

Source: Bloomberg

Mexican President Andres Manuel Lopez Obrador’s controversial proposal to tighten control over the country’s fuel market has cleared the lower house of congress, another step in his long-sought goal of resuming the state’s energy monopoly.

With 292 lawmakers in favor, 153 opposed, and 11 abstaining, the chamber approved in general terms the president’s proposal to give national oil company Petroleos Mexicanos greater control over the recently liberalized fuel market that lured investments from Royal Dutch Shell PlcBP PlcChevron Corp. and Exxon Mobil Corp. After debate on certain articles, the bill will be taken up by the senate, where the ruling Morena party and its allies have a majority.

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