(Reuters) .- Petroleum Engineer Ángel Cid Munguía would have returned to Pemex as in charge of his exploration and production arm after the surprising departure this week from Néstor Martínez, several sources said with knowledge of the subject.
Cid Munguía had served as director of Pemex Exploration and Production (PEP) until the end of former president Andrés Manuel López Obrador. It was replaced by Martínez in October last year, with the arrival of President Claudia Sheinbaum to Power and the new director of Pemex, Víctor Rodríguez.
Three sources told Reuters that Martínez left PEP on April 30, two of them said Cid Munguía had assumed as head of the division immediately after Martínez’s departure, an excommunication of the extinct regulator of the oil sector, the CNH.
Pemex or the Ministry of Energy responded to requests for information from Reuters.
The change in Pemex’s exploration and production arm is in the midst of the company’s difficulties to stop the fall in hydrocarbon production.
Lee: Pemex loses 2,133 million dollars in the first quarter to ‘High Volatility’
Pemex, the largest oil operator in Mexico and one of the largest companies in the country, has registered a collapse of 11.3% annual at the close of the first quarter in its crude oil production, 1,615 million barrels per day (BPD), including partners, due to the decline of mature fields and delays in well -ending.
The company, one of the most indebted oil companies in the world, is far from the pumping goal of 1.8 million BPD that President Sheinbaum has set for her sexennium. The last time it was within the goal was in March last year with 1.81 million BPD, according to their own data.
Two of the sources, who spoke under anonymity, said that Cid Munguía was an advisor to the Secretary of Energy, Luz Elena González, until the moment of their appointment in Pemex.
Lee: PEMEX production falls 11% in the first quarter
Three sources said Martínez would remain in Pemex, but now as an advisor to the company’s general director.
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