Obrador Calls On Mexico's Oil Workers To Assist In Reform Similar To 1938 Nationalization

Umer Jamshaid Published November 30, 2018 | 09:57 PM

Mexico's President-elect Andres Manuel Lopez Obrador, who is taking office as president Saturday, said Friday he was calling on oil companies to conduct reforms in the same way as in 1938, when the country's oil industry was nationalized.

MEXICO CITY (UrduPoint News / Sputnik - 30th November, 2018) Mexico's President-elect Andres Manuel Lopez Obrador, who is taking office as president Saturday, said Friday he was calling on oil companies to conduct reforms in the same way as in 1938, when the country's oil industry was nationalized.

In March 1938, President Lazaro Cardenas nationalized the country's oil industry.

In 2013, the energy sector reform began, under which access of private and foreign investment was allowed. Russia's Lukoil is among the companies currently working in Mexico.

"What is happening now is too dangerous. We need to invest, I urge the oil industry's current and retired workers to help us save [Mexican state-owned petroleum company] Pemex to do something similar to what happened in 1938," Obrador said in interview with Jornada.