Mexico’s Sheinbaum Wants Debt-Laden State Oil Giant to Go Green

-- Mexico’s leading presidential candidate wants to revitalize the nation’s troubled state oil company with a new focus on clean energy. But first, Claudia Sheinbaum knows she has to fix Petroleos Mexicanos’ $106 billion debt problem.Nigeria’s Economy, Once Africa’s Biggest, Slips to Fourth Place

A new direction for the beleaguered driller could also transform Mexico, which recently surpassed China as the largest US trading partner amid a potential nearshoring boom.One of the realities Sheinbaum faces is that global oil majors are dialing back their green ambitions as returns on renewable investments sag. Companies including Shell Plc and BP Plc have cut their emissions reduction targets, citing “uncertainty in the pace of change in the energy transition.

Sheinbaum would spend about $13.6 billion on new projects to boost Mexico’s use of renewable energy while still adding gas-burning power plants. She’d also increase wind and solar power generation, modernize hydroelectric stations and add about 3,850 kilometers of transmission lines. Sheinbaum said Friday that there must be clear rules for private sector investment in Mexico’s energy sector, and that public sector investments in Pemex would take time to “bear fruit.”Pemex’s oil and gas output has also withered to less than half of what it was two decades ago. Slashing debt is key to turning around the company’s finances, since money that could be spent fixing aging equipment is instead being used to cover unpaid bills and interest payments.

“AMLO entered office with a much easier financial situation than Sheinbaum will inherit,” Ocampo said. NEW YORK — He seems "selfish and self-serving,” said one woman. The way he carries himself in public "leaves something to be desired," said another. His “negative rhetoric and bias," said another man, is what is “most harmful." Over the past week, Donald Trump has been forced to sit inside a frigid New York courtroom and listen to a parade of potential jurors in his criminal hush money trial share their unvarnished assessments of him.

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Mexico’s Sheinbaum Wants Debt-Laden State Oil Giant to Go GreenMexico’s leading presidential candidate wants to revitalize the nation’s troubled state oil company with a new focus on clean energy. But first, Claudia Sheinbaum knows she has to fix Petroleos Mexicanos’ $106 billion debt problem.
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