Mexico’s finance minister and the top of the state oil agency will meet buyers in New York within the subsequent few days, the corporate stated on Sunday, at a time of political uncertainty over the way forward for the opening of the sector to non-public corporations.

State-owned Pemex stated Chief Executive Officer Carlos Trevino and Finance Minister Jose Antonio Gonzalez, who was the earlier CEO, will meet with monetary sector executives to advertise the corporate’s marketing strategy and internationalization.

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Mexico has awarded contracts probably price billions of since opening up oil and gasoline manufacturing and exploration to non-public capital in 2013-14, however a presidential election in July has forged doubt on whether or not the liberalization will persist.

The front-runner within the race is leftist Andres Manuel Lopez Obrador, who has pledged to evaluate contracts signed underneath the vitality reform. Though softening his tone in latest months, he has been a longstanding skeptic of the vitality market opening.

Trevino is because of meet executives from Bank of America, Citigroup and Credit Suisse [CSAG.UL] in addition to different corporations, Pemex stated in an announcement.

He will emphasize Pemex’s dedication to Mexico’s vitality opening, and to strengthening its funds throughout the conferences on Feb. 26-27, the corporate stated.

David Ruelas, who was named Pemex’s chief monetary officer on Friday, can even participate within the talks.

The Mexican oil firm, which suffered a pointy decline in crude output final 12 months, is scheduled to current its monetary outcomes for the fourth quarter on Monday.

Source: www.reuters.com

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