MEXICO CITY (Pakistan Point News / Sputnik - 07th September, 2020) Mexico is planning to stop exporting crude oil by the end of the current government's term to preserve reserves for future generations, President Andres Manuel Lopez Obrador said on Monday.
"We have decided to stop selling crude oil by the end of the government's term � all produced oil must be refined in our country so as not to extract it above what is needed because we want to preserve reserves for future generations," Lopez Obrador told a press conference, as broadcast on the government's Twitter account.
The volume of oil exports from Mexico in December 2019 was 1.2 million barrels per day. The current government's strategic goal is to increase the share of oil refining. Within the context, the authorities are reconstructing six refineries and building another new one in the southern state of Tabasco.
