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Market Note 238 MORENA Reimagines Pemex

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IN JANUARY 15, 2019, a bill was introduced to Mexico’s Chamber of Deputies by Congresswoman Karla Almazán of the ruling MORENA coalition, and her presentation may be seen online.

The tenor of this bill so alarmed two non-governmental organizations (NGOs) in Mexico that, on the same day, they issued a press release (Fig. 1) that would be followed, two weeks later, by an open letter to members of the Lower House in which they expressed concerns about down-grading of the board of directors and the parallel centralization of authority in the office of the director general (Fig. 2).

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