Obrador vows to review Mexico contracts

The opposition candidate in Mexico’s 2018 presidential elections, Andres Manuel Lopez Obrador, vowed on Tuesday to review the oil contracts the country has signed since its energy reform began in 2014.

Speaking at the Wilson Center in Washington, DC, the leader of Mexico’s National Regeneration Movement and former mayor of Mexico City said that the E&P agreements signed between Mexico and private players would need to be further appraised to ensure that they did not harm the interests of the country.

“We will not act arbitrarily,” Lopez Obrador said. “We will be respectful of the legality, but we will review contracts.”

The politician also discussed Pemex’s standing as a public company, saying, “Everything related to Pemex must be public business. Their profits are for the Mexican people and we must look after them.”

Regarding the downstream sector, Lopez Obrador called for the construction of two more refineries, in addition to a modernisation programme that would include all six of the country’s existing refineries. According to the presidential hopeful, this would allow Mexico to reduce spending and dependence on imported refined products.