AMLO’s New Guard Could Mean Even More Brain Drain at Pemex

On the day after Andrés Manuel López Obrador—nicknamed “AMLO”—was elected Mexico’s president, the streets outside the headquarters of Petróleos Mexicanos, the state-owned oil giant, were loud and rowdy in support. Inside the offices there was a morguelike quiet. Instead of shouting, there were whispers: “What are you going to do? Where are you going?”

Since 2015 a major restructuring of the company has trimmed Pemex’s workforce by about 16 percent, pushing many managers into retirement. It may now be facing a further brain drain even as the new president promises to boost oil production, say people familiar with the situation. Some managers and senior staff members have already left, the people say, and others are expected to follow.