| | |  Business News | March 2009 
Mexico Senate Confirms New Pemex Board Members
 Miguel Angel Gutierrez - Reuters
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Mexico City - Mexico's Senate confirmed key appointments to the board of state oil monopoly Pemex on Tuesday in a bid to improve corporate governance and strategic planning at the struggling company.
The four new board members, who were nominated by conservative President Felipe Calderon but needed Senate approval, will join representatives on the board from the government and the oil workers' union.
Last year, Congress passed an energy reform package that included adding so-called professional directors to Pemex's board to help reverse the slide in oil production that threatens Mexico's status as the world's sixth-biggest oil producer.
The reform also gives the state company more autonomy over its budget and loosens some restrictions on the contracts it can offer to private sector firms.
(Editing by David Gregorio) |
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