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.