PEMEX Upstream Head to Step Down

Sources cited by Reuters reported that Angel Cid, Director of PEMEX’s E&P upstream unit, is expected to step down from his leadership role, with internal discussion suggesting that Octavio Barrera may be appointed as his replacement. Industry sources and analysts say the leadership transition would occur at a critical moment for the NOC, as it seeks to stabilize hydrocarbon output and navigate financial constraints. Cid’s tenure has been closely tied to the administration’s objectives of reversing long-term production declines and advancing mixed contract strategies intended to attract private participation in upstream activities.

According to Reuters, Cid’s departure is imminent, though PEMEX has not publicly confirmed a resignation or replacement. Those sources indicated that Barrera, a senior engineer and current Deputy Director of Design, Engineering and Project Execution within PEMEX’s Exploration and Production arm, is among the leading candidates to take over the post. According to industry observers, his increasing visibility within the organization and expertise in project execution make him a plausible successor as head of PEMEX’s production division.

Analysts note that Barrera’s potential promotion would align with PEMEX’s broader goals of improving operational performance and accelerating project delivery at a time when consistent execution has proven challenging. His background in engineering and project management may signal an emphasis on technical execution amid ongoing efforts to restore production levels that have languished near multi-year lows.

Cid rose to prominence in the company after serving in various management roles within PEMEX’s operational divisions. He has been a key figure in advancing exploration initiatives and managing the technical aspects of production strategy under the current federal administration.

However, PEMEX’s oil and gas output has faced persistent pressure. Production has remained below historical levels, with analysts pointing to geological decline, infrastructure constraints, and financial limitations as ongoing obstacles. The company’s recent financial strategy, including the Programa de Financiamiento de Inversión 2025 and negotiations around mixed contract investments with private partners, reflects efforts to unlock capital and entice collaboration to offset these structural challenges.

According to El Financiero, Cid’s potential departure has played out against a backdrop of broader organizational shifts and strategic recalibration within PEMEX, as the company strives to align its operational leadership with evolving objectives tied to production stabilization and upstream portfolio execution.