Mexican finance minister, Pemex chief to meet investors in New York
Mexico’s finance minister and the head of the state oil firm will meet investors in New York in the next few days, the company said on Sunday, at a time of political uncertainty over the future of the opening of the sector to private firms, Reuters reported.
State-owned Pemex said Chief Executive Officer Carlos Trevino and Finance Minister Jose Antonio Gonzalez, who was the previous CEO, will meet with financial sector executives to promote the company’s business plan and internationalization.
Mexico has awarded contracts potentially worth billions of dollars since opening up oil and gas production and exploration to private capital in 2013-14, but a presidential election in July has cast doubt on whether the liberalization will persist.
The front-runner in the race is leftist Andres Manuel Lopez Obrador, who has pledged to review contracts signed under the energy reform. Though softening his tone in recent months, he has been a longstanding skeptic of the energy market opening.
Trevino is due to meet executives from Bank of America, Citigroup and Credit Suisse [CSAG.UL] as well as other firms, Pemex said in a statement.
He will emphasize Pemex’s commitment to Mexico’s energy opening, and to strengthening its finances during the meetings on Feb. 26-27, the company said.
David Ruelas, who was named Pemex’s chief financial officer on Friday, will also take part in the talks.
The Mexican oil company, which suffered a sharp decline in crude output last year, is scheduled to present its financial results for the fourth quarter on Monday.