Mexican president pitches law that could suspend oil permits
MARCH 26, 202110:08 PMUPDATED 18 HOURS AGO
By Adriana Barrera
3 MIN READ
MEXICO CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador sent a bill to Congress on Friday that could enable the government to suspend permits in the oil industry, as part of a drive to bolster state control of energy at the expense of private firms.
Lopez Obrador argues previous administrations skewed the energy market in favor of business interests and were intent on carving up national oil firm Petroleos Mexicanos (Pemex) and power utility the Comision Federal de Electricidad (CFE).
His new initiative, a copy of which was seen by Reuters, set out a series of measures to strengthen state influence over the oil and gas industry and said the government should have the right to suspend permits if a threat to Mexico is perceived.
According to the draft bill, the energy ministry or the energy regulatory commission could temporarily suspend permits “when an imminent danger is foreseen for national security, energy security or for the national economy.”
More:
https://www.reuters.com/article/us-mexico-oil/mexican-president-pitches-law-that-could-suspend-oil-permits-idUSKBN2BJ02C
