Poor results at Pemex have put Octavio Romero Oropeza in a tight spot: operations are underway from the National Palace to remove Ángel Cid, who returned in May as Director of Exploration and Production and is a man with direct ties to the current head of Infonavit. The government leaked to the press that Cid's departure was inevitable, sounding the alarm in Romero's circle, where just two weeks ago some were even suggesting Cid could replace Víctor Rodríguez as general director. Sources in the sector confirmed that the Palace is already considering that Cid will leave his post shortly due to dissatisfaction with poor production results. Pemex's financial situation is disastrous. In this context, it has become urgent to make changes. Pemex's contracts with private companies do not inspire confidence in the sector, and calls for Rodríguez's removal persist. Therefore, it is expected that the PEP directorship will be taken over by Octavio Barrera Torres, current head of Design, Engineering, and Project Execution at PEP, with a long career at Pemex and good standing among oilmen. The key point: it is noted that he is not a close associate of Romero. The change will be a major blow to Octavio Romero, who had hoped to gain ground amid the strong campaign to oust Víctor Rodríguez from the general directorship and place someone from his circle in the role, while also strengthening his position at Infonavit. However, as explained by LPO, despite the criticism of Rodríguez Padilla and disagreements with Luz Elena González over taking control of the directorship, the Palace is resisting a change in the top leadership to avoid an imposition from Palenque. Bosch believes Octavio Romero is behind the Miss Universe scandal. In this context, Cid's departure seems natural, as he is a highly controversial figure in the sector, being held responsible for the enormous increase in debt to suppliers, which further damaged the oil company's credibility. During this new management, the executive has failed to reverse the downward trend in oil production, while Pemex has managed to sign only a handful of the 11 contracts with private companies announced by the president in her first government report. The bailouts that began in 2015 have amounted to around 150 billion dollars, yet the company's financial situation has hardly changed, the Mexican Institute of Finance Executives (IMEF) reported. The bailouts for the oil company have not only included transfers through the Ministry of Energy (Sener), but also a reduction in its tax burden, as well as fiscal stimuli, contributions from Fonadin, and others. The Ministry of Finance already takes it for granted that Pemex will still need federal government support in 2027, despite the oil company's Strategic Plan, which forecasts achieving self-sufficiency that year.
