UPDATE 1-Pemex chief touts Mexico's energy reform in Washington visit

jueves 24 de abril de 2014 17:17 GYT

(Adds more detail about Pemex's expansion plans)

By Valerie Volcovici

WASHINGTON, April 24 (Reuters) - While energy reforms have opened the door for Mexico's state-run energy company to expand overseas, its focus for now will be on developing its "low-hanging fruit," the head of Pemex said on Thursday.

Pemex Chief Executive Emilio Lozoya spoke in Washington, D.C., at the annual conference of the Export-Import Bank, the official U.S. export credit agency, on a panel discussing the next frontier of investment opportunities.

Lozoya, a 39-year-old Harvard graduate, touted the potential benefits of Mexico's massive energy reform to Mexico's economy, the central American region and the United States.

Last year, Lozoya said Pemex would set up a new company in a bid to gain production experience in the United States, in both shale and deep water projects, but the company has yet to do so. [ID: nL2N0GK0FW]

Pemex currently has a 50 percent stake in the Deer Park refinery outside Houston, Texas, via a joint venture with Royal Dutch Shell Plc.

For now, however, Pemex remains focused on attracting U.S. companies interested in Mexico's untapped potential.

"In Mexico there are many reserves that are accessible compared to other parts of the world. That does not mean that Pemex will not go international at some point, but right now the easier opportunity is in Mexico," he said.   Continuación...