By Stefanie Eschenbacher
Mexican state energy company Pemex has resumed dealing with Vitol, three sources with direct knowledge told Reuters, nearly three years since deals with the world’s largest independent energy trader were banned over a graft scandal.
The ban followed Swiss-based Vitol’s public acknowledgement in December 2020, in a deal with the U.S. Department of Justice, that it had paid kickbacks to win business with Pemex, as well as state companies in Brazil and Ecuador.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
