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https://elceo.com/negocios/claudia-sheinbaum-y-luz-elena-gonzalez-escobar-disenan-plan-para-resolver-crisis-financiera-de-pemex-y-cfe/

Claudia Sheinbaum and Luz Elena González Escobar design plan to solve Pemex and CFE's financial crisis
Business

July 30, 2024
Camila Ayala Espinosa
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Claudia Sheinbaum Pardo reported that she is already working with the next head of the Ministry of Energy (Sener), Luz Elena González Escobar. The purpose is to develop a strategy aimed at addressing the critical financial and profitability situation faced by Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE).

At a press conference, the virtual president-elect explained that, after the appointment of González Escobar, the first stage of the plan has focused on reviewing the actions carried out in the current government to reduce the collection of the Right to Use Fuels (DUC) for Pemex.


This measure has sought to relieve the financial pressure on the state-owned company and improve its economic stability.

"We are working on several issues with Luz Elena González, who is going to be the Secretary of Energy, we are seeing both in CFE and in Pemex, in the case of Pemex obviously its financial balance, the importance of maintaining production at a certain level," he commented from his transition house in Iztapalapa.


Within the operational part, he stated that they are reviewing the refineries of Salina Cruz and Tula.

Without mentioning something of a possible centralization of the state's productive companies under a federal agency, the former head of government of Mexico City also pointed out that she is working on the 2025 Economic Package.


"We are in the work plan for the first 100 days of government (...) in the 2025 Expenditure Budget (...) We are already working with Rogelio Ramírez de la O and his team," he said.

Refineries and new opportunities for Pemex
For the rest of the refineries, the situation of the coking plants is being seen, how far the investment went and "if necessary" with the analyses done, reinforce.

"The idea is to refine everything that is extracted, which is an original idea of President Andrés Manuel López Obrador and that it is important that it is maintained," he said.


For Pemex, work is also being done on new areas of opportunity and development, such as petrochemicals with fertilizers, and even more so with natural gas and lithium.

"The possibility that Pemex ventures, for example together with Litio MX, into lithium mining (...) oil companies from other countries are making inroads. It would also give Pemex a possibility of extraction and development and profits different from oil and natural gas alone," he said.

Claudia Sheinbaum reports on plans for the CFE
The former scientist pointed out that although CFE presents a very different financial situation from Pemex and that it has even been successful in its financing model, the company is intended to lead the energy transition.

"So, our objective particularly at CFE is the energy transition, to further strengthen renewable energy sources from different mechanisms," he said.


He explained that what he proposed since the campaign still stands, which is to keep 54% of generation in the hands of the Mexican State and 46% in the hands of the private sector.

He asks that mistrust not be generated
In the face of growing uncertainty about the future of autonomous bodies in Mexico, Claudia Sheinbaum called for calm, assuring that these entities will not disappear, but will be absorbed by federal agencies.

According to Sheinbaum, the reforms necessary for the transition of these autonomous bodies will be addressed after the reforms to social support.

"First we will address the judiciary, indigenous issues and social ranks. Later, we will be reviewing the others," he said, outlining a plan that seems to prioritize social reforms over the administrative restructuring of the next federal government.