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.
To contact the reporter on this story: Eric Martin in Mexico City at firstname.lastname@example.org
To contact the editor responsible for this story: Andre Soliani at email@example.com