• It said the petroleum company sorely needed strategic alliances with specialized contractors and suppliers

El Financiero en línea

Mexico City, April 9th.- The Mexican Executive Finance Committee (IMEF) suggested Monday that a Corporate Government should be implemented in order to strengthen the finances and business profile of the nation's sickly state-owned oil giant, Petroleos Mexicanos (Pemex).

In an analysis of the troubled petroleum company published Monday, the IMEF also said Pemex sorely needed strategic alliances with specialized contractors and suppliers.

The report said: "A strategic vision and the implementation of a Corporate Government are necessary to visualize Pemex as an energy sector company and not just a producer and exporter of crude oil and gas."

"Authorities need to think deeply about the vulnerability of Pemex's revenues and work hard toward preventing a further deterioration of the state-owned petroleum company," the IMEF said. (Information provided by Finsat/GCE)