By: Ryan Kemrite 

Abstract: The Mexican hydrocarbon industry is at a crossroads.  Current President Andrés Manuel López Obrador (AMLO) has advocated for overturning the country’s energy reforms enacted in the mid-2010s by ex-president Peña Nieto.  Peña Nieto’s energy reforms liberalized the energy sector, opening it up for foreign, private investors.  With three more years in his presidency and a super-majority coalition in congress, AMLO appears to be already placing pieces to reverse the energy sector’s liberalization.  Private investors in the Mexican hydrocarbon industry must now know their options and prepare for the worst-case scenario.  Recent trade agreements and case law might partially protect U.S.-based investors, but AMLO will be free to implement his agenda if fully supported by the Mexican population.

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