The secretary of finance and public credit, Luis Videgaray Caso, says the national oil company will have to adapt to a competitive market.

Mexico. The secretary of finance and public credit, Luis Videgaray Caso, says the national oil company will have to adapt to a competitive market. “PEMEX is no different than any other oil company,” he said. “It has to be more efficient and reduce costs. It must also privatize certain aspects.” He added, “PEMEX has enormous reserves [and will succeed] if it deals with the reality and makes the changes that the rest of the industry is making.” [SNL FERC Gas Report, 2 March 2016]