Petroleos Mexicanos Chief Executive Officer Emilio Lozoya found “serious” and “worrisome” corruption within the state-owned oil producer after taking the helm three months ago, according to newspaper El Universal.
Lozoya opened a probe after becoming CEO on Dec. 3 that found elements of corruption, the Mexico City-based newspaper reported.
Pemex would benefit from an overhaul of the nation’s energy laws and has too much bureaucracy and too many workers given current production levels, he said.
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