By Nick Cunningham

Mexico’s President-elect Andres Manuel Lopez Obrador, or AMLO, has promised to invest around 175 billion pesos ($9.4 billion) into the state-owned energy companies. One of the goals is to reverse the decade and a half of declining oil production.

“Fourteen years ago, oil production was 3.4 million barrels a day. Now it’s 1.9 million barrels a day,” AMLO said at a news conference. “In 14 years, we’ve lost 1.5 million barrels a day in production, a downward trend because the oil industry was abandoned.”

Read more...http://energyworthonline.com/2018/08/02/mexicos-president-elect-amlo-promises-9-4bn-investment-into-oil/