President Claudia Sheinbaum published new laws that recover the essence of the oil expropriation commemorating its 87th anniversary. These laws give prominence to state-owned companies, Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE). At a commemorative event at the Oil Tower in the capital, Sheinbaum stated that Pemex and CFE have prominence in oil production, refining, and electricity, without being considered monopolies.
Among the laws enacted are those of the Public Company of the State of CFE and Pemex, those of the Electric Sector and the Hydrocarbons Sector, Energy Planning and Transition, Biofuels, Geothermal, and the National Energy Commission. According to the president, all secondary laws associated with the recovery of Pemex and CFE have been established, a process that began in 2024 with a constitutional reform that classified them as "public companies" rather than "productive."
These laws aim for Pemex and CFE to regain their prominence in the sector without competing on equal terms with private companies, reversing the opening of the sector to private and foreign investment made during the energy reform of former president Enrique Peña Nieto. The legal reforms also seek to establish "energy justice" and regulate private investment in energy, eliminating Pemex's subsidiary companies for a vertical integration of the oil company.
Despite financial difficulties, Sheinbaum and the CEO of Pemex, Víctor Rodríguez, reaffirm that the company is on the "right track" with an announced investment of nearly 1.85 trillion pesos for exploration, production, fertilizers, and petrochemicals during Sheinbaum's government period. The enacted laws aim to consolidate Mexico's energy sovereignty, in line with the increase in oil production to 1.8 million barrels per day achieved by López Obrador.
In conclusion, Sheinbaum stated that Mexico's sovereignty and dignity are being recovered, indicating that the promulgation of these laws is a step towards a future of sovereignty and well-being for the country.
