Mexico's Galvez says Pemex should focus on exploration, consider geothermal business

The future of electricity is renewable power." Separately, Galvez said a scrapped Texcoco airport project could be used to store and process water for the capital, which is facing water shortages, and that a joint customs agency could be set up with the U.S. to tackle gun and drug trafficking. Galvez is polling significantly behind ruling party candidate and former Mexico City mayor Claudia Sheinbaum ahead of elections this June.

Mexican opposition presidential candidate Xochitl Galvez on Friday said state oil firm Pemex should focus on its exploration arm and could look at new business opportunities, such as geothermal energy.

"Pemex should start entering into the (broader) energy sector," Galvez said, speaking at a banking convention in Acapulco on the country's Pacific coast. "The future of energy is electricity. The future of electricity is renewable power." Separately, Galvez said a scrapped Texcoco airport project could be used to store and process water for the capital, which is facing water shortages, and that a joint customs agency could be set up with the U.S. to tackle gun and drug trafficking.

Galvez is polling significantly behind ruling party candidate and former Mexico City mayor Claudia Sheinbaum ahead of elections this June.