New Direction for PEMEX Signals Shift in Contractor Relations

The appointment of Víctor Rodríguez as the next Director of PEMEX signals a potential shift in the company’s relationship with contractors, as well as in its operational strategies. Víctor Rodríguez, an academic from UNAM with extensive experience in energy economics, is expected to bring a more transparent and efficient approach to contracting and partnerships, according to Fluvio Ruiz, a former independent advisor to PEMEX and advisor at the Senate.

Rodríguez, has been closely involved in the development of energy sector reforms and has a deep understanding of the industry's needs. His appointment, announced by president-elect Claudia Sheinbaum, is seen as a positive development for PEMEX and the broader national oil industry.

Ruiz emphasized that despite Rodríguez’s lack of public office experience, his comprehensive knowledge of the energy sector, including his work with the Economic Commission for Latin America and the Caribbean (CEPAL) and his academic background, positions him well to lead PEMEX through upcoming challenges. "He brings a fresh perspective, akin to a football coach who may not have played professionally but has a strategic understanding of the game," Ruiz said.

Under Rodríguez’s leadership, PEMEX is expected to see significant changes, particularly in its legal and fiscal frameworks. Ruiz highlighted the possibility of revisiting the Hydrocarbons Revenue Law to institutionalize long-term tax reductions in the shared utility right (DUC), moving away from the current practice of annual adjustments.

In terms of contracting, Rodríguez’s approach is not likely to revert to the models introduced by the 2014 energy reform, such as licenses and shared production agreements for private companies through tenders. Instead, the focus will likely be on refining service contracts, allowing PEMEX to strategically select partners for exploration and extraction projects in areas where external expertise is beneficial, rather than in shallow waters where PEMEX has sufficient in-house capabilities.

Another area poised for development is research support. Ruiz noted that the disappearance of trust funds has left the sector underfunded in this regard, and Rodríguez’s leadership could bring renewed focus and resources to this critical area.