Home / World / Americas

Mexican president denies privatizing Pemex

Xinhua | Updated: 2013-03-18 11:08

MEXICO CITY - Mexican President Enrique Pena Nieto on Sunday rejected accusations that his government sought to privatize the state oil giant Mexican Petroleum (Pemex).

In a ceremony to commemorate Pemex's 75th anniversary, he said "neither will Pemex be sold, nor will it be privatized", adding that the company will continue to be a property of all Mexicans.

Pemex "is not on sale because it is a symbol of progress and national identity," he said.

Pena Nieto's remarks were seen as defending his administration from accusations of left-wing leaders that it planned to privatize Pemex, the only company that can carry out oil refining in Latin America's second-biggest economy.

In early March, Mexico's ruling party changed its platform to allow for private investment in the oil industry.

The president, however, said Pemex would be "modernized and transformed" to boost its competitiveness and efficiency.

Moreover, "green growth" will be promoted in a bid to fight against climate change, Pena Nieto said.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349