Mexican President Sheinbaum to Gain Control Over Pemex and Electricity Utility Under New Energy Bill

Oct 10, 2024, 07:20 PM

Mexican President Claudia Sheinbaum is set to gain increased control over Pemex and the national electricity utility under new legislation expected to win approval. The energy bill aims to align Pemex and the Federal Electricity Commission (CFE) with government goals, and the ruling coalition holds a majority in the lower house to pass the bill. This move marks the first step toward expanding federal control over the country's energy sector. Additionally, Sheinbaum is expected to appoint Diana Alarcón, a longtime ally and former IDB official, as Mexico’s top representative at the World Bank. Alarcón's appointment is part of Sheinbaum's broader strategy to reduce poverty and boost development. The administration also offers a boost to clean energy and infrastructure. Furthermore, the new Pemex refinery is running at about 80% of capacity.