Pemex is open to partnerships

Jose Antonio Gonzalez Anaya, Pemex chief executive officer, said that the national oil company Pemex is seeking partnership to deal with low energy prices. Mr. Gonzalez said that Pemex faces a very good long term opportunity because the energy reform gave the company tremendous flexibility, such as being able to partner with other people, for example in refining. “Pemex is open to having operators with majority stakes in upstream and downstream areas in the entire structure and is already in talks with some potential partners,” he said. Mr. Gonzalez added that the company is prepared to talk about and put in the table non-strategic assets and that the company needs to continue to get savings in cost efficiencies, such as in procurement and negotiating practices, and “there is a lot of room to do that, still.”