Claudia Sheinbaum Appoints Victor Rodriguez as Pemex CEO

Claudia Sheinbaum, Mexico's president-elect, has appointed Victor Rodriguez, an energy economist and academic, as the new CEO of the heavily indebted state oil company Pemex, which faces nearly $100 billion in debt and declining production levels. Rodriguez, who lacks direct oil industry experience, emphasized the need for collaboration with the finance ministry to stabilize the company while also committing to a transition towards cleaner fuels. This move is part of Sheinbaum's broader strategy to revive Pemex's profitability and align with her green energy goals, signaling continuity with her predecessor's policies, who favored fossil fuel investment. Sheinbaum's cabinet includes a mix of new and familiar faces, aiming to address the financial volatility of the energy sector. Rodriguez's ties with Sheinbaum date back to a co-authored paper on energy policies, indicating a longstanding relationship built on shared objectives for Mexico's energy future. The challenges ahead for Rodriguez include restoring investor confidence amidst concerns over constitutional changes that may impact independent energy regulation.