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Mexico Chooses Economist as New Energy Minister

ENERGY

Mexican President-elect Claudi Sheinbaum has appointed economist and lawyer Luz Elena Gonzalez to become energy minister in the new government commencing Oct. 1.

  • The incoming energy minister has a long record in public service but has no direct energy industry experience.
  • Gonzalez will face many challenges, including the completion of the delayed Olmeca refinery and tackling Pemex’s huge debt.
  • Markets will keep a watch on the direction of the new government’s policy vis a vis oil and gas.
  • Outgoing President AMLO was a strong supporter of the oil industry, although his goal of Mexico reaching energy self-sufficiency by end of his term likely to fall well short.
  • However, some speculate that Sheinbaum, a former climate scientist, may take a different approach, with a stronger focus on renewable energy.

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