Mexico's incoming President faces a challenge to maintain energy independence as domestic crude supply reaches a 40-year low.
Mexico's incoming President, Claudia Sheinbaum, faces a challenge to fulfill her predecessor's ambition for energy independence, as domestic crude supply declines to a 40-year low. This slump could result in Mexico importing crude to feed its expanded refinery capacity by the next decade, reversing its role as a key global exporter. In recent years, state-owned Pemex has failed to meet local fuel demand due to its outdated refineries, causing Mexico to export crude but import gasoline and diesel, mainly from the US.
July 25, 2024
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