According to current Mexican mandatary, his administration offers guarantees for these transactions and a secure business environment for both private and public entrepreneurs. AMLO also announced “the end” of the state company “Mexican Petroleum” (Pemex).
"That's right, let's hear it loud, the privatization period is over, never again will that nightmare happen," said the Mexican President as he led the ceremony in Mexico City commemorating the 82nd anniversary of the oil expropriation.
The mandatary affirmed Pemex would prosper during his government with its workers' support, efficiency, and legality. He also expressed Pemex refining capacity must increase by 10%, after governmental inversions on the energetic sector.
"On March 18, 1938, the historic decision was made to return to the Mexican nation what belongs to everyone."
AMLO also stated that for the first time in the last 14 years there was no reduction in oil production and currently the company extracts 88 thousand barrels more per day and a total of a million 712 thousand daily barrels.
Mexican Energetic Reform was approved in 2013 and its complementary laws in 2014, during Enrique Peña Nieto’s administration. It establishes a new industrial order that allows the productive sector to acquire electricity under competitive prices in a Wholesale Electrical Market.
Currently, in Mexico the payment for energy works as the acquisition of a service: clients can choose a supplier and propose agreements adapted to both parts' needs and capabilities.