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Exclusive: Mexico To Hold Off On Possible New Energy Reform Until Next Year - Sources

Exclusive: Mexico To Hold Off On Possible New Energy Reform Until Next Year - Sources

Mexico's president asked regulators on Tuesday to help strengthen state oil firm Pemex and power company CFE using existing laws, but added he could seek energy reforms next year if required to meet his goals, two sources said.

MEXICO CITY: Mexico’s president asked regulators on Tuesday to help strengthen state oil firm Pemex and power company CFE using existing laws, but added he could seek energy reforms next year if required to meet his goals, two sources said.

The sources, who were present at the closed-door meeting and spoke on condition of anonymity, said President Andres Manuel Lopez Obrador called on the country’s energy regulators to avoid issuing permits that would prevent private competitors to Pemex and CFE from expanding their footprint in the country.

The leftist energy nationalist also expressed his wish to refinance the massive debt loads shouldered by both of the state-run energy giants, formally known as Petroleos Mexicanos and Comision Federal de Electricidad, the sources said.

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