Pemex resumes trade with Vitol after corruption scandal: Reuters

Mexico’s Pemex has returned to cooperation with Vitol, they said. Reuters Three sources with direct knowledge of the matter come nearly three years after the state oil company banned trades with the world’s largest independent energy trader. corruption scandal.

The ban came after Vitol publicly acknowledged in a settlement with the US Department of Justice in December 2020 that it paid bribes to do business with Pemexas well as with state-owned companies in Brazil and Ecuador.

In recent days, two ships carrying Vitol shipments have arrived at two Mexican ports, they said. Reuters two sources familiar with the agreements spoke on condition of anonymity because the information was commercially and politically sensitive.

A third senior trade source confirmed that Vitol has resumed business with Mexico.

Neither the agreement nor the fact that Mexico resumes trade with Vitol previously reported.

Vitol declined to comment, and Pemex and co. mexican government They did not respond to requests for comment.

The Liberian-flagged Arvin left Houston on Sept. 7 partially loaded and headed to the Mexican port of Pajaritos, according to LSEG. She arrived at this port two days later and completed unloading on 15 September.

For its part, the Danish-flagged Torm Thames completed unloading on September 13 at the Mexican port of Tuxpan and headed empty to nearby Tampico, where it is anchored, according to LSEG.

Port records showed that Arvin was transporting petrol regular and MTBE, an additive to unleaded gasoline that increases octane and oxygen levels and reduces pollution. The Torm Thames carried premium petrol and MTBE.

Reuters was unable to determine the terms of the agreement between Mexico, one of the world’s largest importers of petroleum products, and Vitol.

The president Andres Manuel Lopez Obrador and CEO of Pemex, Octavio Romeropublicly stated that the country would resume negotiations with Vitol if adequate compensation was paid, and the company named those involved in the corruption scandal.

Pemex later released the names of the two former officials, but it is unclear what compensation, if any, was paid. The state-owned company said last year that Vitol had offered compensation, but it is unclear whether that was ultimately done.

After the corruption scandal that rocked Latin America, Reuters reported that Mexico is looking for review some of your contracts worth hundreds of millions of dollars with a Geneva company.

Pemex’s Romero said the company would waive terms it considers unfavorable. Pemex officials ultimately called off contract negotiations after Vitol executives They rejected the oil company’s proposed changes to the terms.

It is unclear when negotiations will resume.

Meanwhile, legal proceedings in the United States continue.

Javier Aguilar, a former manager of a subsidiary of the Vitol group of companies, appeared in federal court in Houston in late August, according to reports. It follows from them that he appeared in court on August 21, pleaded not guilty and was released on bail of 100 thousand dollars.

He is suspected of conspiring to violate anti-corruption provisions Foreign Corrupt Practices Act (FCPA) and violated the FCPA, Travel Act, and money laundering laws in connection with a scheme involving Mexican government officials.

On September 20, 2020, a federal grand jury in Brooklyn indicted Aguilar for the first time on charges of conspiracy to bribe Ecuadorian officials on behalf of his employer, Vitol. He pleaded not guilty.

He is tried in the Ecuadorian case in January.

The second indictment, filed in Brooklyn on December 2, 2022, added charges related to a separate scheme. bribery of Mexican officials on behalf of Vitol, but those charges were dropped on May 31 due to lack of proper jurisdiction.

Similar charges stemming from an alleged bribery scheme in Mexico were filed in Houston on August 3.


Source: Aristegui Noticias