Mexico’s bill to increase government controls over the fuel market won final congressional approval in the latest blow to the country’s historic opening up of the energy industry.

Mexico’s fuel market grip is poised to tighten, buoying AMLO- oil and gas 360

Source: Bloomberg

With 65 lawmakers in favor, 47 opposed, and 6 abstaining, the senate on Thursday passed the proposal from President Andres Manuel Lopez Obrador to expand control over gasoline and diesel distribution, imports and marketing. It also allows the government to suspend permits from fuel-market operators based on national or energy security reasons, and it lets state-owned oil company Petroleos Mexicanos take over their facilities.

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