Mexican President's Radical Energy Reform Defeated in Congress

Energy Partner Carlos Ochoa was interviewed by Financial Times about the failure to pass an energy reform bill in Mexico's Congress. The energy reform bill proposed by Mexican President Andrés Manuel López Obrador needed a two-thirds majority to pass. However, there was opposition to this bill from the beginning of its proposal, and it did not reach a majority of votes in Congress. According to opposing parties, the bill would affect investment, the economy and the environment negatively. Mr. Ochoa said the lack of constitutional majority was also important for the broader economy and investment climate.

"The energy sector isn't going to change, it'll stay as it's been until now without investment or with very focused investment," he said. "It is a good message for other industrial sectors to know that at least there are checks and balances."

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