Mexican state-owned oil giant Petroleos Mexicanos said Tuesday it is looking to forge partnerships and associations with domestic and foreign oil companies in a bid to bolster its competitiveness.
Get our news delivered to your inbox every morning. Click here to signup
“What we’re looking to do is to promote synergies between Petroleos Mexicanos and its suppliers, contractors, partners and technologists – as well as with higher education institutions – throughout the oil industry value chain,” Pemex CEO Emilio Lozoya said.
He recalled at the opening of the second edition of Pemex’s Expo Foro that the goal of last year’s energy overhaul was to turn the oil company into “a lucrative state enterprise within two years.”
The three-day forum will highlight the expansion potential that exists for new participants in all areas, “from upstream crude exploration and production to retail fuel distribution, refining, hydrocarbon transport and petrochemicals,” Lozoya said.
Pemex must “compete in the market in all links of the industry’s value chain” and do so in a timely and efficient manner, the chief executive said.
Lozoya, named Petroleum Executive of the Year on Tuesday by the Energy Intelligence Group, said the forum’s second edition was taking place at an “historic moment” in Mexico marked by profound transformations.
The CEO said he was certain the gathering would yield ideas and actions that enrich that process.
Do you want to support local media? Learn how you can support this news site
Pemex must combine its activities with the initiative and financial and technological capacities of numerous other companies to create a dynamic oil sector that enhances Mexican industry’s competitiveness, Lozoya said.
The energy overhaul enacted in December ended Pemex’s 75-year monopoly on oil and gas production, opening the door for private companies to develop untapped offshore and onshore resources.