Sheinbaum Administration Shifts Mexico's Hydrocarbon Policy Away from López Obrador's Stance
The Mexican government, under President Claudia Sheinbaum, has unveiled its Hydrocarbon Sector Development Plan for 2025-2039, signaling a notable departure from the energy policies of her predecessor, former President Andrés Manuel López Obrador. The new plan introduces proposals previously considered anathema, such as a conservative oil production target and an acknowledgment of the potential for gas extraction from unconventional reservoirs, which would necessitate hydraulic fracturing (fracking). It also formalizes the opening for Pemex, the state-owned oil company, to partner with private companies. This contrasts sharply with López Obrador's approach, which canceled oil rounds and emphasized strengthening Pemex's autonomy. The new plan aims to maintain oil production at a minimum of 1.6 million barrels per day until 2039, a slight increase from current levels but a significant reduction from López Obrador's goal of 2.4 million barrels. For natural gas, the plan targets a production peak of 6.6 billio...
