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MEXICO: New Pemex CEO Named, July Trade Balance Data Expected

MEXICO
  • Recapping Monday’s news, President-elect Claudia Sheinbaum named academic and energy expert Víctor Rodríguez the next chief executive of state oil company Pemex. Rodríguez will take over from Octavio Romero, who Sheinbaum added will stay in government.
  • Wires have noted that Rodríguez was a critic of Mexico's 2013 opening of the energy sector to foreign and private investment. Most recently, he has been teaching postgraduate courses at Mexico's National Autonomous University. Rodríguez said that coordination with the Finance Ministry will be key to stabilizing the company's finances and paying for future projects.
  • Separately, trade balance data for July is due at 1300BST/0800ET, with economists surveyed by Bloomberg expecting a $1.71-billion deficit, following a $1.04-billion deficit in June.
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