Pemex Names New Deals Chief in Race to Find Partners

(Bloomberg) -- Petroleos Mexicanos has named a new head of joint ventures and new business as it rushes to complete oil deals before the arrival of a new government in December.

Jorge Lomelin takes over after David Hernandez left the post in February to head up Pemex’s logistics arm, the company said in a statement. Lomelin will have his work cut out for him. State-owned Pemex has said it will hold an October 31 auction to find partners to develop seven onshore fields, finalize three refinery joint ventures and tweak the terms of two failed offshore farm-out deals. It could also issue as much as $3.5 billion in debt before the end of the year.

Lomelin served most recently as Pemex’s deputy director of business development at the company’s refining arm, Pemex Industrial Transformation. He was also part of the communications team, working with state governments and regional media.

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