Mexico’s president ousts Lozoya, appoints new leader for Pemex

Mexico’s President Enrique Peña Nieto has removed Emilio Lozoya as head of state oil firm Petróleos Mexicanos (Pemex) and replaced him with economist Jose Antonio Gonzalez Anaya, according to various media outlets.

Lozoya has been at the company’s helm since 2012. Over the last several years, Pemex has suffered from an explosion at its headquarters in January 2013, which killed 37 people, and from fuel thefts from Pemex pipelines. Low oil prices have hampered the company’s projects, and Pemex has said that it may have to postpone bidding for deepwater offshore exploration until market conditions improve. Pemex's board is expected to announce additional budget cuts soon due to the slump in oil prices.

Dr. Gonzalez Anaya was previously head of Mexico’s Social Security Institute. He has also worked as an economist for the World Bank and at senior positions in Mexico’s Treasury Department. He holds degrees in economics and mechanical engineering from MIT, as well as a doctorate in economics from Harvard.

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