On July 1, 2018, López Obrador won the Mexican presidency and his party obtained a congressional majority—sufficient to enact legislation, but not to amend the Constitution. The new president has made few statements on energy reform.

Andrés Manuel López Obrador’s advisers differ about energy reform: Some say it will remain untouched, while Secretary of Energy Rocio Nehal has called for partial counter-reform. Other voices anticipate amendments that will return Pemex to a semi-regulator role, bypassing the independent agency created in 2013. In light of this, it is relevant to review the legal framework governing investors’ oil development contracts.

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