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Pemex’s trading arm suspends business with Vitol amid US bribery probe | Malay Mail

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MEXICO CITY, Dec 11 — The commercial arm of Mexican state oil company Petroleos Mexicanos (Pemex) has temporarily suspended business with the world’s largest independent oil trader Vitol, which is the subject of a US bribery investigation, according to a letter seen by Reuters. As part of a...

Friday, 11 Dec 2020 08:09 AM MYT

As part of a wider probe, the US Justice Department said last week that the US subsidiary of Vitol paid bribes to Pemex employees in exchange for lucrative contracts. Many oil trading houses buy Mexican crude from Pemex in spot deals and some of them also provide natural gas or liquefied natural gas to Mexico’s state power company CFE.

 

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