Post by Agathe Vigne for Mexico Business Blog
Petroleos Mexicanos (Pemex) and Mexico’s energy sector in general are bound to evolve in the next six years. That was one of Mexico’s newly elected president Enrique Pena Nieto’s seven campaign promises. To embody that change, EPN is counting on two new leaders at the head of the ministry of Energy (Sener) and Pemex.
The new energy minister, Pedro Joaquin Coldwell, is a 62-year-old seasoned politician. A long-time member of the PRI, Coldwell has occupied a variety of positions inside the party and has served as local and federal deputy and senator for the state of Quintana Roo.
On the other hand, 37-year-old Emilio Lozoya Austin has been at the head of private companies and investment funds, as well as Director for Latin America at the World Economic Forum. Except for his past stint as analyst at Mexico’s Central Bank, Banco de Mexico, Emilio Lozoya has no real experience in government. However, he is the son of a former energy minister under Carlos Salinas de Gortari, Emilio Lozoya Thalmann.
Though their profiles strongly differ – Coldwell, the experienced politician specialized in tourism and development, and Lozoya, the young financial shark – they have one thing in common: they are new to the energy sector. That could be seen as a weakness, as critics already warn of the privatization of Pemex and the uncontrolled selling of national resources to transnational companies. Read the rest of this entry »