MEXICO CITY—Energy investors continue to wait out the tenure of Mexico’s President Andrés Manuel López Obrador and are anxious to see what a new leader will have to offer, according to Rystad Energy analysts.

Investors have had to contend with widespread uncertainties around Mexico’s energy sector developments under López, Rystad’s vice president of business development Erick Sánchez Salas told Hart Energy on March 23 on the sidelines of the AAPG-Energy Opportunities event in Mexico City.

But Sánchez said the potential for changes next year offer some glimmer of hope. 

López’ political policies have focused on energy sovereignty and strengthening state-owned Petróleos Mexicanos (Pemex). The Mexico City-based oil giant continues to confront headwinds to significantly boost oil and gas production under a massive debt load of around $105 billion and a political directive.

Pemex Looks to Hike Production, Boost Self-Sufficiency, Reduce Imports

There is talk that López will remain in power behind the scenes of his Morena party, Rystad senior vice president and head of Latin America energy Schreiner Parker told Hart Energy. 

A potential front-runner to watch is Mexico City mayor Claudia Sheinbaum, among others, Parker said.