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10:32 19 July
10:27 19 July
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Mexico's next president aims to end foreign fuel imports in three years


Mexican President-elect Andres Manuel Lopez Obrador will seek to end the country’s massive fuel imports, nearly all from the United States, during the first three years of his term while also boosting refining at home, APA reports quoting Reuters.

 

The landslide winner of last Sunday’s election told reporters on Saturday morning before attending private meetings with members of his future cabinet that he will also prioritize growing crude oil production domestically, which has fallen sharply for years.

 

“The objective is that we stop buying foreign gasoline by the half way point of my six-year term,” said Lopez Obrador, repeating a position he and his senior energy advisor staked out during the campaign.

 

“We are going to immediately revive our oil activity, exploration and the drilling of wells so we have crude oil,” he said.

 

On the campaign trail, the leftist former mayor of Mexico City pitched his plan to wean the country off foreign gasoline as a means to increasing domestic production of crude and value-added fuels, not as a trade issue with the United States.

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