Claudia Sheinbaum, Mexico’s president-elect, has announced the appointment of Víctor Rodríguez Padilla as the new director of Petróleos Mexicanos (Pemex), the state-owned oil company. Rodríguez Padilla, a physicist and energy expert with 42 years of experience in the sector, will assume his role on October 1, 2024.Rodríguez Padilla brings a strong academic background to the position, holding a Ph.D. in Energy Economics from the University of Grenoble, France, and having served as a professor at the Universidad Nacional Autónoma de México (UNAM). His appointment is seen as a move to incorporate Pemex as a tool for development with a social focus.In his new role, Rodríguez Padilla plans to maintain oil production at 1.8 million barrels per day while shifting focus towards sustainability and renewable energy sources. ‘We don’t want to pollute, we want cleaner fuels,’ he stated. He also emphasized the need to develop new projects in wind, solar, and offshore wind energy, as well as strategic materials such as lithium.Addressing Pemex’s financial challenges, Rodríguez Padilla noted that the company’s debt has decreased from $130 billion to $94 billion during the current administration. He plans to work closely with the incoming Secretary of Energy, Luz Elena González, and the Secretary of Finance, Rogelio Ramírez de la O, to further stabilize the company’s financial situation and finance future projects.Rodríguez Padilla expressed gratitude for the opportunity, stating, ‘It’s a challenge, an honor, and a great responsibility’. He also defended the progress made in recent years, saying, ‘What have we done in the last six years? We’ve rescued Pemex, which was left in ruins by neoliberal policies’.
Key points
- Víctor Rodríguez Padilla, an energy expert with 42 years of experience, has been appointed as the new director of Pemex.
- Rodríguez Padilla plans to maintain oil production while shifting focus towards sustainability and renewable energy.
- Pemex’s debt has decreased from $130 billion to $94 billion, and further financial stabilization is a priority.
