Mex production

Mexico President Andrés Manuel López Obrador said during his Thursday morning press conference his government would continue to respect oil and gas laws and existing contracts in the country.

He added, however, that if he were somehow unable to “rescue” national oil company Petróleos Mexicanos (Pemex) and state electricity firm Comisión Federal de Electricidad (CFE), his administration would then push for a reform of the Constitution to undo changes made during the previous administration that opened the energy sector to private participation for the first time in 70 years.

The president, who often goes by his nickname AMLO, reiterated that if this were the case he would only try to make the changes after next year’s midterm elections.

“It would be...