AMLO Celebrates Oil Takeover Anniversary With Vow to Back Pemex

Mexico President Andres Manuel Lopez Obrador said the nation will continue to support state oil producer Petroleos Mexicanos as the company works to ramp up production at its local refineries and reduce its massive debt load.

Speaking from Pemex’s headquarters in Mexico City to mark the 86th anniversary of Mexico’s 1930s oil expropriation, AMLO, as the president is known, said the government would keep financially supporting Pemex as the country’s transition to renewable energy remains distant.