In March 1938, Cardenas announced the nationalization of the oil industry, and only in 2013, the Mexican Congress approved an energy reform opening the oil sector to private companies, including the foreign ones.
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"We will produce oil because oil and gas production has been decreasing since the beginning of the energy reform. We will save the oil industry like Gen. Cardenas did in 1938," Lopez Obrador posted on Twitter late on Sunday.
In August, Pemex, Mexico's major oil and gas company, produced oil at the average level of 1,816 million barrels per day, which is a 5.9 percent decrease year-on-year, and a 28 percent decrease compared with the notch registered in August 2013.
