Mexico celebrates 77 anniversary of oil assets expropriation and prepares for reform: Pemex

Mexican President Enrique Pena Nieto recently headed a ceremony meant to commemorate 77 years from the expropriation of oil assets which developed the Mexican state oil company. Also, Mexican officials discussed coming changes coming along with the country’s approved energy reform, a statement by state owned Pemex said.

Emilio Lozoya, director general of Pemex, said that the coming energy reform which will open the Mexican energy and fuel market to prívate competition including foreign will create a radical transformation of the industry.

The company will concentrate efforts in most profitable areas and will seek to improve its performance as part of its strategy to compete with new foreign players, Pemex officials said.