Emilio Lozoya replaced as Pemex CEO

February 9, 2016

After more than three years at the helm of Mexico’s national oil company Pemex, Emilio Austin Lozoya has been replaced as the CEO. In his place, Mexico’s president Enrique Peña Nieto has named José Antonio González Anaya.

According to a statement on the Mexican government’s website, Anaya will face simultaneously two key challenges. First he will need to work on accelerating the transformation of Pemex, to maximize the opportunities offered by Mexico’s energy reform, with a focus on greater environmental sustainability. And also, the president said, the new CEO will need to strengthen Pemex’s finances and production, in a context of low international oil prices.

It will be necessary to adjust the cost structure, review program spending and strengthen the investment processes, using new schemes and investment partnership with the private sector, enabled by the energy reform, a statement on the government’s website reads.

Following the announcement, the former managing director Emilio Lozoya issued a statement in Spanish on his twitter account addressed to Pemex’s workers, thanking them for helping him transform Pemex into “a more modern, efficient and competitive company,” adding that “today, with the effort and commitment of all workers, we can say that Pemex has strength to overcome the challenges of the new domestic and international environment, and continue to be the number one company in Mexico and international leader in this industry.”