Mexico’s energy reform is ‘irritating’: Canadian ambassador – El Sol de México

The energy reform proposed by President Andres Manuel Lopez Obrador is irritating to United States and Canada, assured Graeme Clark, Ambassador of Canada to Mexico.

“It is an irritant in the relationship between Mexico and the United States and between Mexico and Canada. I travel the country, I am very aware of the concerns of canadian private sectorHere is four billion dollars of Canadian investment in the renewable energy sector,” the official said.

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When closing the Private Equity Summit 2022organized by the Mexican Association of Private Capital (Amexcap)the diplomat assured that most of the concerns of investors are focused on the energy sectorwho also have investments in sectors of manufacturing or mining.

Last year, President Andrés Manuel López Obrador presented a reform aimed at strengthening the Federal Electricity Commission (CFE) on private companies in the country.

The goal, says the president, is to recover the country’s energy sovereignty. Similarly, in recent months, support has been provided to Petroleos Mexicanos (Pemex) to ease your financial burden, while the construction of the Dos Bocas refinery.

Graeme Clark added that his government would give timely follow-up to the discussion and eventual approval of said reform, since Mexico must also respect its environmental commitments signed in the Treaty between Mexico, the United States and Canada (T-MEC) and the Paris Agreements.

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“There is the formal and informal channel, there are formal discussions and informal discussions. Fortunately, we have good access to the Mexican government and we can share our concerns with them. We are not going with a magic wand to solve problems,” the president said. .

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