Pemex ramps up risk management amid energy reform

Mexican state-owned oil giant weighs up commodity hedging strategies

Mexico City

Petróleos Mexicanos (Pemex), Mexico’s state-owned oil and gas giant, is stepping up its risk management activities amid drastic reform of the country’s energy sector.

“In energy reform there are many challenges for Pemex,” says Antonio López Velarde, the firm’s head of financial risk management. “We aim to become a state-owned, productive company – we will have a different discount regime, new rules of competition and so on. It’s a very challenging time, so what we are doing here in all areas is