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Mexico's Pemex appoints new head of production unit, internal documents show
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Mexico's Pemex appoints new head of production unit, internal documents show
Mar 10, 2026 11:21 PM

MEXICO CITY, Dec 23 - Mexico's state-owned oil company

Pemex has appointed Octavio Barrera as the new head of its

exploration and production arm, effective Wednesday, ‌CEO Victor

Rodriguez announced on Tuesday in an internal company document

reviewed ​by Reuters.

Reuters reported last week that Angel ‍Cid was due to step

down from ⁠his role ⁠as head of Pemex Exploration and Production

(PEP) in the ‌coming days, just months ​after returning to the

position, as the company struggles to stem a decline in ⁠oil

output.

Reuters also reported ‍that Cid ​would be replaced by

Barrera, an electronics engineer appointed in May as deputy

director of design, ‍engineering and project execution at PEP as

part of a company restructuring.

According to the official letter, dated Tuesday and signed

by Rodriguez, Barrera will hold the position as "acting

substitute," but will ​perform ‍all the duties established in the

company's bylaws.

Pemex did not immediately respond to a request ​for comment

from Reuters.

Pemex is grappling with more than $100 billion in debt

despite multibillion-dollar capital injections and tax breaks

from the government.

The leadership change comes amid the company's attempts to

increase oil production, currently at 1.6 ​million barrels per

day (bpd), and as it searches for alliances with companies to

reach the national oil output goal of 1.8 ‍million bpd.

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