Mexican president Enrique Peña Nieto has replaced the chief executive at Pemex, the state oil company that is bleeding cash because of the oil price slump, with instructions that all its units must become more profitable. José Antonio González Anaya moves to the top job at the world’s eighth largest producer from IMSS, the state social security institute, replacing private equity specialist Emilio Lozoya who has held the job since the end of 2012. Mr González Anaya takes the helm of Mexico’s biggest company as it struggles to boost production as the oil price plunge takes its toll. Pemex had the country’s oil sector to itself for nearly 80 years, before Mexico opened it up to private investment. The company, which made a third-quarter loss of $10bn, is hampered by having to hand most of its income to the government.