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Meade to seek nod for presidential race, Trevino appointed CEO of Pemex, Gonzalez Anaya Mexico's finance minister

Mexico's finance minister Jose Antonio Meade resigns, paving way for election run
.Meade, 48-year-old Yale-trained economist touted as PRI's best be-Watch video

By Eric Martin / Adams Williams

Petroleumworld 11 29 17

Mexico's Meade Resigns, Paving Way for Election Run

By Eric Martin

Jose Antonio Meade threw his hat in the ring to become the presidential candidate of Mexico's ruling party in the July 2018 election, hours after resigning his post as finance minister.

Meade's resignation announced earlier Monday by President Enrique Pena Nieto ends months of speculation that he would step down from the cabinet in order to seek the nomination of the president's Institutional Revolutionary Party. The president also said that Jose Antonio Gonzalez Anaya will step down as CEO of Petroleos Mexicanos become finance minister.

Read more: Pemex's revolving executive door

I do this with deep conviction and emotion, my only wish is to serve my country, Meade said at an event in Mexico City Monday afternoon.

Meade, a 48-year-old economist with a doctorate from Yale University, was in his second turn as finance minister. He served in four cabinet posts for presidents from rival parties, including a year as social development minister, where he was the public face of Pena Nieto's efforts to combat poverty in the nation's poorer south. Meade has not been tainted by corruption scandals that have plagued the upper echelons of Mexico's government. That has led some to tout him as the scandal-plagued PRI's best option for the 2018 presidential race.

"I wish him the best of luck in the project he has decided to undertake," Pena Nieto said, without giving details on Meade's next assignment.

Some think Meade would make a better fit as central bank governor, taking over from Agustin Carstens, who leaves this week to lead the Bank for International Settlements. In a June interview, Meade said the central bank would be able to cut borrowing costs as early as the end of this year.

Meade emerged as an option for the presidential race after some of Pena Nieto's closest allies, and potential successors, were hit by allegations of a conflict of interest, as is the case for Foreign Minister Luis Videgaray, or faced criticism for surging violence, such as Interior Minister Miguel Angel Osorio Chong. A 2015 probe by the country's public comptroller cleared Videgaray of any wrongdoing in his purchase of a home from a government contractor.

Mexico City-based newspaper El Universal first reported on Meade's departure late Sunday and said Interior Minister Miguel Angel Osorio won't compete for the PRI candidacy.

Mexico's peso was little changed, up 0.1 percent to trade at 18.53 per dollar in early afternoon trading in New York.

Trevino appointed CEO of Pemex, Gonzalez Anaya Mexico's finance minister

By Adam Williams

Petroleumworld 11 29 17

Carlos Trevino has been named chief executive officer at Petroleos Mexicanos replacing Jose Antonio Gonzalez Anaya, who will become Mexico's finance minister.

Trevino is no stranger to Pemex or its financial operations, having served under Gonzalez Anaya as the state-run energy company's chief administration officer. His appointment is seen as a continuation of Gonzalez Anaya's administration as the two worked closely together to map the company's short-term plans in the new era of competition in Mexico's oil industry.

Gonzalez Anaya, a Harvard-educated economist and former deputy finance minister, will replace Jose Antonio Meade. The move shifts responsibility to Trevino to carry out a five-year plan designed by Gonzalez Anaya to stabilize Pemex's finances through asset sales, job cuts and production partnerships. Trevino will be the third CEO in under two years, and the eighth since 2000.

Previously, Trevino served as Pemex's chief financial officer and chief administration officer from 2010-2012, under then-CEO Juan Jose Suarez Coppel. Prior to his return to Pemex last year, he worked alongside Gonzalez Anaya as the CFO for the Mexican Social Security Institute.

First story by Alex Devine; second story by Adam Williams from Bloomberg.

/ 11 28 2017

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