This report was inspired by the presentation in Houston on January 7, 2014, by Arturo Henríquez, president of the renamed Pemex Procurement, Inc. (formerly ITS). The presentation was made at the end of a one-day conference on opportunities in unconventional resources in Mexico. We identify the two broad concepts that Pemex visualizes for the restructuring in the post-reform regime. We then offer a series of caveats that are meant to help manage expectations about procurement in Pemex. The report draws on the example of Apple’s late Steve Jobs, contrasting his approach to procurement and that of Pemex and CFE.