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Latin American Economy & Business - September 2014 (ISSN 1741-7430)
Mexico: Pemex restructures
On the surface at least, it looks as if Pemex, Mexico’s state-owned oil giant, is on the front foot and adapting quickly to changing times. On 11 August, President Enrique Peña Nieto signed into law a package of by-laws ushering in wide-ranging changes to the country’s energy markets. Nine days later, on 20 August, the chief executive of Pemex, Emilio Lozoya, announced a restructuring of the company. The question is whether Pemex is ready for a smooth transition from seven decades of monopoly power to a new, more competitive future.
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