Mexico: Pemex’s trading arm suspends business with Vitol amid U.S. bribery probe

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 U.S. bribery investigation, according to a letter seen by Reuters.

As part of a wider probe, the U.S. Justice Department said last week that the U.S. subsidiary of Vitol paid bribes to Pemex employees in exchange for lucrative contracts.

The department said Vitol’s U.S. unit had agreed to pay $164 million to resolve U.S. government probes into alleged bribes the firm paid in Mexico and other Latin American countries.

In the letter seen by Reuters and dated Dec. 9, Pemex arm PMI Comercio Internacional said it had “taken the decision to suspend temporarily commercial relations” with Vitol’s companies.

The original full article can be found at reuters.com

(Photo: REUTERS/Edgard Garrido/File Photo)

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