As Mexico prepares to implement a historic liberalization of its energy sector, the sudden departure of the top upstream executive at Pemex -- the country's monopoly oil producer for over 70 years -- suggests major changes are looming for the company. Pemex announced on Friday afternoon that Carlos Morales Gil, head of its exploration and production subsidiary, known as PEP, had resigned after more than nine years in that role. Gustavo Hernandez Garcia, previously deputy planning director at PEP, has taken over the top job.
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