PEMEX Petróleos Mexicanos : Board of Directors approved the appointment of management for three new productive subsidiaries

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The Board of Directors of Pemex approved the start of operations of the newly created productive state-owned subsidiaries (EPS, empresas productivas subsidiarias): Pemex Perforación y Servicios (Pemex Drilling and Services), Pemex Fertilizantes (Pemex Fertilizers) and Pemex Etileno (Pemex Ethylene), in accordance with the Article 13, Section XXIX of the Law of Petróleos Mexicanos.

Moreover, within the corporate reorganization process, upon the proposal of the General Director of PEMEX, Emilio Lozoya, the Board approved the appointment of the director of each of the companies:

José Serrano Lozano, General Director of Pemex Drilling and Services; Edgar Torres Garrido, General Director of Pemex Fertilizers and Ignacio Javier Vergara Castillo, General Director of Pemex Ethylene.

Serrano Lozano is a petroleum engineer from UNAM, with a Master in Science from the IPN. He began his career in 1982 in the Mexican Petroleum Institute and in 1985 joined Petróleos Mexicanos, where he has held several positions, including Planning Manager in the Northern Region and Manager of the Burgos and Samaria Luna business units.

He has served as head of the Southern Region Branches, Northeast Marine Region and Project Services of Pemex Exploration and Production. Since the beginning of the year, he has worked as Interim Head of the Drilling Business Unit.

He has also participated in national and international forums with technical work related to Petroleum Engineering and focused on studies of reservoirs, recovery and rejuvenation of fields, strategic planning and the development of capital projects. He has received several honors and awards, including the National Award of Petroleum Engineering.

Garrido Torres has a B.S. in Economics from ITAM and a Master on Public Administration and International Development from Harvard University. He began his career in 1997 at the Ministry of Finance and Public Credit and later joined BANRURAL as Manager of Financial Planning.

At Financiera Rural, he was the Head of the Risk Management Unit and at FIRA, he was the Head of the Department of Studies and Program Evaluation. Since January 2013 he has served as Executive Advisor to the CEO of PEMEX, and has been focused on revitalizing the fertilizers industry.

Vergara Castillo is a civil engineer by Tecnológico de Monterrey, with a Master in Science from the University of Colorado and in Business Administration from the University of Columbia.

He was Chief Investment Officer at IIC of the IDB Group for six years and for 15 years he worked as Managing Director at Accenture, a multinational consulting company on technology and outsourcing. Up to now he served as advisor at the Directorate General of Pemex.

The new EPS have legal personality, assets of their own and technical and operational autonomy, subject to the central management, strategic direction and coordination of Petróleos Mexicanos. Its purpose will be to create economic value and profitability for the Mexican State, for which they may carry out activities in the country or abroad.

The approved structures strengthen the relationship between processes in an agile and flexible way.

Likewise, their respective Boards of Directors were created, which will be chaired by the CEO of Pemex, and will be integrated as follows:

Pemex Drilling and Services: Carlos Roa Rodríguez, Chief of Staff of the Directorate General; Víctor Díaz Solís, Corporate Director of Administration and Services; José Luis Luna Cárdenas, Corporate Director of Business Process and Information of Technology; Luis Ramos Martínez, Deputy Director of Portfolio Management PEP; Miguel Ángel Maciel Torres, Deputy Director of Business Development of Exploration & Production of the Department of Corporate Alliances and New Business; and Gustavo Escobar Carré, Deputy Director for Procurement and Supply for Exploration & Production of the Department of Corporate Procurement and Supply (DCPA, Dirección Corporativa de Procura y Abastecimiento).

Pemex Ethylene: Edgar Torres Garrido, CEO of Pemex Fertilizers; Jorge Collard de la Rocha, Deputy Director of Business Performance of the Department of Corporate Planning, Coordination and Performance (DCPCD, Dirección Corporativa de Planeación, Coordinación y Desempeño); Jorge Itzal Martínez Herrera, Deputy Director of Planning, Coordination and Evaluation of Refining; Mario Govea Soria, Budget Deputy Director of de Department of Corporate Finance; Jorge Valadez Montoya, Deputy Director of Project Analysis for PMI International Trade; and José Luis Antonio Gómez Góngora, Branch Manager of Procurement and Supply for Industrial Transformation of DCPA.

Pemex Fertilizers: Miguel Tame Domínguez, CEO of Refining; Víctor Díaz Solís; Jorge Collard de la Rocha; Sergio Escoto Cortés, Deputy Director of Planning and Coordination of DCPCD; Alma Rosa Moreno Razo, Deputy Director of Economic Performance of the Department of Corporate Finance; and Luis Rodolfo Capitanachi Dagdug, Branch manager of the Sub-directorate of Petrochemical Finance.