Pemex, Mexico’s state‑owned oil producer, announced the appointment of Elizabeth González Garduño as its new chief financial officer, effective June 25, after receiving board approval. González Garduño previously served as Pemex’s deputy director for budget and has held senior roles at Mexico’s Finance Ministry and Treasury. The CFO change follows the promotion of former finance chief Juan Carlos Carpio to chief executive in May, after the prior CEO departed to lead the national electricity institute. President Claudia Sheinbaum highlighted Carpio’s experience with debt‑reduction and restructuring as a key factor for his selection.
Pemex continues to grapple with an approximately $80 billion debt load, loss‑making refining operations, and broader operational setbacks that have eroded profitability. Oil production has slipped about 6% since President Sheinbaum assumed office, falling to 1.65 million barrels per day by the end of March. To address these challenges, the administration has extended more than $40 billion in financial support to cover debt obligations, payroll costs, and refinery improvements. Additionally, the government is encouraging greater private‑sector participation through joint‑venture arrangements, targeting enhanced self‑sufficiency in oil and gas by 2027.
In parallel with the leadership overhaul, Pemex signed a non‑binding agreement with Brazil’s Petrobras to explore collaborative opportunities in exploration and production projects, underscoring the company’s strategy to revive output and attract new investment.