AMLO will not reverse energy reform: adviser

By Elliot Bullman

Business advisor says Mexican candidate took favourable impression after contract review

A top business advisor to leading presidential contender Andres Manuel Lopez Obrador has struck a conciliatory tone on the populist's attitude towards Mexico's energy reform, according to a media report.

Resultado de imagen para AMLO will not reverse energy reform: adviser

Alfonso Romo, a business tycoon from northern Mexico, said Lopez Obrador’s government would not change any laws around the energy reform, saying the contracts were “well done”.

“We will not reverse the energy reform,” he said, referring to the billions of dollars of contracts at stake.

Resultado de imagen para AMLO will not reverse energy reform: adviser

Amlo, as Lopez Obrador is known, spooked the energy industry last year by stating he would review the oil contracts won in the current administration if elected president, generating fear within Mexico’s fastest growing industry. The country’s oil sector only re-opened to private competition in 2013, after state-owned Petróleos Mexicanos held a monopoly over crude production since 1938.

Now his main advisers are out to calm industry fears.

“It would be an error for the next administration to cancel all that has been accomplished in this one," Abel Hibert, chief economic adviser for Lopez Obrador’s administration, said in an interview in Mexico City. “We are changing the perception that we are closing the door on the energy reform and all the economic benefits it has provided."

Resultado de imagen para Abel Hibert

Several other advisors have previously said Lopez Obrador would leave the energy reform enacted under President Enrique Pena Nieto’s government alone.

Lopez Obrador, a leftist who holds a double-digit lead in almost all polls, has threatened to tear up the major oil and gas reform, and review the contracts already given out to look for signs of corruption.

Foreign investors and energy companies are paying close attention to what might happen ahead of the July 1 vote.

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