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LatinNews Daily - 30 July 2018
In brief: Mexico
* Mexico’s President-elect Andrés Manuel López Obrador has announced that his incoming administration, due to take office on 1 December, will allocate an additional M$175bn (US$9.38bn) to shore up the national energy sector. López Obrador said that after analysing the national energy sector with his government transition team, it has decided to invest an additional M$75bn (US$4bn) in oil exploration and exploitation efforts in a bid to increase national crude production from 1.9m barrels per day to 2.5m barrels per day. The new government will also spend M$49bn (US$2.6bn) on the repair and upgrading of the country’s existing oil refineries, with the rest of the earmarked funds destined to other energy sector areas.
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