April 25, 2018 / 8:48 AM / a year ago

Pemex CEO says must move towards IPO, but not currently planned

LONDON, April 25 (Reuters) - The chief executive of Mexico’s national oil company Pemex said on Wednesday it must move towards a stock exchange listing like Saudi Arabia’s Aramco IPO-ARAM.SE has done but that such a step would take years.

Speaking at an oil conference in London, Carlos Trevino pointed to a call by the head of Mexico’s National Hydrocarbons Commission to float a minority stake in Pemex.

“I think he is right,” Trevino said. “Pemex needs to perform a little bit better... We must be moving in that direction like many (national oil companies) have done... Maybe not in the following years. But yes, we have talked about it.” (Reporting by Shadia Nasralla; editing by Jason Neely)

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