Mexico presidential candidate Sheinbaum vows to boost state energy sector

The former Mexico City mayor, who has promised to be a guardian of the legacy of energy nationalist President Andres Manuel Lopez Obrador, said renewables would be a "trademark" of her government. Crude oil production should be at 1.8 million barrels per day (bpd) and refineries should work more efficiently to help wean the country off expensive gasoline and diesel imports, Sheinbaum said at an event without providing a timeframe.

Mexican presidential candidate Claudia Sheinbaum on Monday vowed to keep boosting the activity of the country's state-owned energy companies, while also accelerating the transition to renewable energies.

If Sheinbaum wins the June election, as polls predict, she will inherit state oil company Pemex and state electricity utility CFE, both of which have been grappling with large debts and ailing infrastructure. The former Mexico City mayor, who has promised to be a guardian of the legacy of energy nationalist President Andres Manuel Lopez Obrador, said renewables would be a "trademark" of her government.

Crude oil production should be at 1.8 million barrels per day (bpd) and refineries should work more efficiently to help wean the country off expensive gasoline and diesel imports, Sheinbaum said at an event without providing a timeframe. Pemex currently produces 1.5 million bpd.

Sheinbaum also said she wanted both companies to have a "reasonable" level of debt and that while they should be strengthened, they should eventually be operating for the benefit of consumers. Sheinbaum said her government would not increase the price of gasoline, diesel or electricity. A growing demand for energy, she said, would have to be met through renewables.

In her speech, Sheinbaum also said Pemex could participate in the exploration of lithium, and some renewables production.

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