Change at Pemex

As we had expected for a few months, although it became imminent a week ago,
Adrian Lajous is leaving Pemex,
and will be substituted by Rogelio Montemayor.
I have known Rogelio for some time; he is an outsider to the Energy sector,
but a good Economist, who has
held both technical positions in past Governments, as well as elected officer
( Congressman, Senator and Governor
of Coahuila).
Rogelio is close to Francisco Labastida, the PRI candidate to the Presidency
(elections-July 2000), and was proposed
by Luis Tellez (Secretary of Energy) as a transition CEO of Pemex, with whom
he can work in some deregulation initiatives
before the change of Government (Dec. 2000).
This leaves our friend Luis Tellez in a very powerful position, since he was
able to remove both the head of CFE & Pemex,
who were opposing his deregulation efforts. Hopefully, he will be able to
transcend the change of Administration, and keep
his drive and level of influence.

Regards, jaime_____