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Head of Mexican oil industry regulator to step down

Gasoil News - Published on Fri, 16 Nov 2018

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Reuters quoted the head of Mexico's oil industry regulator, the National Hydrocarbons Commission (CNH), as saying that he would step down from his post at the end of this month, just as the next government takes power. CNH President Mr Juan Carlos Zepeda said in a statement, however, he would be an external adviser to the government of President-elect Andres Manuel Lopez Obrador, who takes office on Dec. 1. Zepeda has overseen the opening of the country's oil and gas industry to new private producers under constitutional changes by outgoing President Enrique Pena Nieto.

The oil regulator supervises more than 100 exploration and production contracts awarded at auctions since 2015, in addition to approving drilling plans by national oil company Petroleos Mexicanos, which Lopez Obrador has said he will seek to strengthen.

The incoming president, a leftist, has been skeptical of the benefits of allowing private and foreign oil companies to participate in the industry, and has threatened to walk back oil reform.

Mr Zepeda, who has headed the independent regulator since its creation in 2009, said that next year, when his second five-year term would have expired, he would be joining a company managing funds dedicated to infrastructure and energy development.

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Posted By : Joykumar Irom on Fri, 16 Nov 2018
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