Energy Reform — PEMEX Opened to Private Capital

Constitutional reforms ended PEMEX's 75-year monopoly on Mexican oil and gas, allowing production-sharing agreements and licenses with private companies for the first time since 1938. The reform was presented as modernization to reverse declining production (from 3.4 Mbpd in 2004 to 2.5 Mbpd in 2013). Critics called it 'the second oil expropriation in reverse.' AMLO promised to reverse it upon taking power.