· Despite the complexity of the international scenario, Petroleos Mexicanos’ prospects are positive, he declared.

· Unlike other oil companies in the rest of the world, today PEMEX has two strengths that distinguish it: Energy Reform and the government’s total, unchanging, permanent and determined support, he said.

· PEMEX and its workers are not alone, they have the support of my administration and the strong support of their friend the president, he declared.

· Let's show the world that PEMEX is a big, strong, successful company. A reliable company that is ready to continue transforming itself, he said.

· He led the 77th Anniversary of Oil Expropriation.

President Enrique Peña Nieto said today that, “Despite the complexity of the international scenario, the prospects of Petroleos Mexicanos (PEMEX) are positive,” and in the coming months, the company, “Will demonstrate its capacity to turn this moment of difficulty into a great opportunity to structurally strengthen and become a benchmark for the global energy industry.”

As he led the commemoration of the 78th Anniversary of Oil Expropriation, the president said that, “Unlike other oil companies in the world, today PEMEX has two strengths that distinguish it:

On the one hand, he said, “It has an Energy Reform, whose transformative potential is just beginning. This structural change gives it greater flexibility and capacity to form partnerships and opens up a new horizon of possibilities; in short, Energy Reform gives Petróleos Mexicanos strength and a future.”

On the other hand, he added, “Unlike other oil companies worldwide, PEMEX has the full, unchanging, permanent and determined support of the government. PEMEX has always supported Mexico, and now, with full conviction, I can tell you that Mexico will be able to support PEMEX.”

“PEMEX and its workers are not alone, they have the support of my administration and the strong support of their friend the president,” he declared.

President Peña Nieto declared that the Ministries of Finance and Energy, “Have received instructions to accompany and facilitate the process of adjustment and modernization PEMEX requires. He added that both departments will support it, so that it can make the best use, as soon as possible, of all the instruments and benefits provided by Energy Reform, including new partnership schemes with the private sector.”

He noted that today, “The world situation marked by the dramatic fall in international oil prices once again demands the best of our oil men. The circumstances we face require their audacity and determination, capacity and experience.”

The president explained that like oil companies all over the world, “Pemex must adapt to the new reality of low oil prices.

"Like all oil companies in the rest of the world, PEMEX must do more with less, it must generate efficiencies and reduce costs. It must increase its productivity and direct its investment towards the most profitable projects. PEMEX must act with vision and responsibility,” he explained.

He explained that, “There are difficulties, but also alternatives and, above all, a solution plan. No difficulty, however complex it may seem, will be greater than the capacity and strength of Petróleos Mexicanos and its workers.”

He said that as a productive state enterprise, “Its managers and Board of Directors will have to make difficult but necessary decisions. The adjustment plan approved by the directors of PEMEX and its Board of Directors represents a clear path for addressing the situation, and at the same time, it will strengthen this great national enterprise.”

He noted that today, on the 78th Anniversary of the Oil Expropriation, “Our mission is to put PEMEX, this State Productive Company, at the forefront.”

“We must be up to the demanding, competitive global energy market in which we live. I am sure that by working together with vision, responsibility and determination, we will achieve a new stage of growth for PEMEX, for the benefit of all Mexicans,” he said.

The president declared that together, ”We will show the world that PEMEX is a big, strong, successful company. A reliable company that is ready to continue transforming itself,” he said.

In the future, he continued, “PEMEX will be a symbol of a nation that dared to change, it will be an example of a nation that is proud of its past and is building its future.”

President Peña Nieto congratulated and thanked all of Mexico’s oil family. ”Thank you for your effort, work and daily commitment to Mexico. I congratulate each and every one of the country’s oilmen. You are a great source of pride for our nation,” he said.

At the event, held at the PEMEX Administrative Center, the president received a framed copy of the manifesto to support oil expropriation, signed by the governors of the country in 1938 company, from the director of PEMEX.


José Antonio González Anaya, Director General of PEMEX, said that some people believe that the company will be unable to emerge from its current difficult situation and become less important. However, he explained, “Today, as happened 78 years ago, those who have doubts about the future of Petróleos Mexicanos are wrong”.

In announcing the progress achieved by PEMEX, just over a month after he took over as its director general, he informed President Enrique Peña Nieto that PEMEX is about to finish paying over 85 percent of Petróleos Mexicanos suppliers. He explained that they are small and medium enterprises, whose financing options are more limited, and whose impact on employment is greater.

He also said, “We are working closely with the Ministry of Finance to be able to pay off all the debts to last year’s suppliers very soon,” after the Board of Directors approved an adjustment to PEMEX’s budget of 100 thousand million pesos on February 26, which, he said, "is allowing us to address the liquidity problems caused by the drop in prices.”

He explained that the circumstances faced by Petroleos Mexicanos today are similar to those of 1938, and added that, “The Energy Reform promoted by President Enrique Peña Nieto’s administration has led to the second great transformation of the oil industry, and recently combined with 70 percent drop in oil prices.”

He said that by using the tools of the Energy Reform to the fullest extent, PEMEX will meet the two complementary objectives of a productive state enterprise: be a profitable venture, without forgetting that it has to contribute to energy development and that of the country.

 The point, he said, “Is to put finances in order to concentrate on fully exploiting our advantages and providing the results the country expects. That is why the adjustment strengthens rather than weakens PEMEX, because only a PEMEX with healthy finances can successfully meet the challenges of the future.”

He considered that PEMEX is experiencing one of the most difficult moments in its history, but argued that, “Oilmen regard the future with optimism; we have new powers and possibilities.”

He added that, "Thanks to Energy Reform, we have reserves, infrastructure and the talent of the oil family.” And especially, he said, “I dare say that we also have the support of the president and the government.”

He stressed that, “With all these elements, PEMEX will emerge stronger from the current difficult situation,” although he acknowledged that, “The process will not be easy and will require quite a bit of effort.”

We have acted in keeping with our history of institutionality: ROMERO DESCHAMPS

Carlos Romero Deschamps, Secretary General of the Mexican Union of Oil Workers, said that in PEMEX’s novel, unprecedented scenario, the union, “And those of us comprising it, have acted in keeping with our history of institutionality.”

He added that, “The Mexican Union of Oil Workers has been a mature, serious organization which has managed, with frank dialogue and good faith as tools, to find acceptable solutions for both parties to the difficult challenges we have faced.”

“Perhaps, he added, "they would prefer to see us as an outrageous, irresponsible group that prefers to use shouting rather than dialogue and stridency rather than reason. We have not done so and we will not do so.”

He told President Enrique Peña Nieto "We have been supportive of the efforts made by the country for its diversification and openness, its modernization and growth."

He confirmed, “The deep respect we have for the industry we helped build, the deep respect we have for the people of Mexico, who for nearly 80 years through our work in Petróleos Mexicanos, allowed us to give financial support to their hopes of prosperity and justice.

He said that, "Today, with a new challenge and a new model of industry that is beginning to emerge, oilmen know that every factory, workshop, platform and ship will always reflect their commitment to Mexico and their vocation towards Petróleos Mexicanos. “And we will always keep our word to President Enrique Peña Nieto and the whole country,” he said.