Mexico’s Morena party has two new candidates vying for the presidency in 2024 to replace Andrés Manuel López Obrador when his six-year term ends.

Both contenders are seen as modestly positive for Mexico's oil and gas policies due to their more business-friendly approach than Lopez Obrador.

Claudia Sheinbaum, the mayor of Mexico City, will resign from her post on June 16 to commence her campaign. She is the first woman in Mexico’s history to run for president, Sheinbaum announced in a June 12 Twitter post.

Sheinbaum holds a graduate degree in physics as well as a master’s degree and doctorate in energy engineering from Mexico’s Universidad Nacional Autónoma de México or UNAM, according to details on the Mexican government’s official website.

Marcelo Ebrard Casaubon, Mexico’s foreign affairs minister, has also thrown his hat into the ring. He initially announced plans on June 6 in a Twitter to leave his post to seek the presidency.

Ebrard holds a degree in international relations from El Colegio de México and has also studie in public administration at the ENA, École Nationale d' Administration in Paris, France, according to details from the Mexican government.

Sheinbaum is mainly known in Mexico City and seen as loyal to Lopez Obrador and more likely to continue to follow his policies. Ebrard has had more visibility across Mexico and abroad due to his positions within the government and would be more business-friendly, analysts in Mexico City tell Hart Energy.

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Lopez Obrador, who founded the Morena party, is ineligible to run again for president next year. His party remains popular across Mexico, further casting light on top potentials Sheinbaum and Ebrard.