Emilio Lozoya
View from the Top

Driver of Mexico’s Competitiveness

Wed, 01/22/2014 - 15:47

Q: What are the highlights in the evolution of your vision and ambition for PEMEX’s development between the day you assumed your position as CEO and today?

A: As CEO of Petróleos Mexicanos, my greatest achievement so far is to have begun a thorough transformation in our company, to make it more efficient, transparent, and competitive for the new context that we are going to face in the coming years. With this transformation and the changes that will arise from the Energy Reform, PEMEX is poised to achieve a significant growth in production and profitability along the whole value chain. Being an integrated oil company, we have opportunities to make money all along the value chain as a result of the Energy Reform. Over the following years, our production will increase as a result of our ability to partner with private capital to explore those businesses where we are not active today as a result of this limited investment capacity. We believe that we can bring production to 3 million b/d by 2018 and 3.5 million b/d around 2020. Our gas production will also increase significantly, and we will reduce our refining losses in the next three years. We want a stronger PEMEX to be the engine of development of our economy, whose activity will add up to the financial and technological capacity of many more international oil companies. This way we will altogether develop a dynamic oil industry that will take advantage of the natural resources of our country and will become a driver of competitiveness for the rest of the national industry. Our goal is to transform the hydrocarbons in our subsoil into employment, more infrastructure, and more economic growth.