Page 6 - LatAmOil Week 37 2022
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LatAmOil                                          MEXICO                                            LatAmOil



       AMLO reports agreement with Valero




       over inflated fuel import invoices






                         MEXICAN President Andres Manuel Lopez   US companies in relation to trade disputes so far
                         Obrador revealed on September 12 that his gov-  and had reached agreements with most of those
                         ernment had ironed out disagreements with the   parties.
                         US-based refiner Valero Energy over inflated   Mexico depends on imports to meet demand
                         invoices for petroleum product imports.  for petroleum products, and the US is one of its
                           Lopez Obrador said at a media briefing that   most important suppliers. In turn, US fuel sell-
                         Mexican authorities had engaged in discus-  ers and traders have gained greater access to
                         sions with Valero executives after discovering   Mexico’s domestic market since the adoption
                         a pattern of “exaggerated invoicing of gasoline   of energy reforms in 2013-2014 under the last
                         imports.” The company was able to clarify the   government, headed by Lopez Obrador’s prede-
                         matter by demonstrating that its invoices were   cessor, Enrique Peña Nieto. However, the cur-
                         being altered without its involvement or consent   rent presidential administration has taken steps
                         by an unknown third party, so the two sides were   to restore the advantages formerly reserved for
                         able to come to “an understanding,” he stated.  the national oil company (NOC) Pemex, and
                           “They explained to us that they are investi-  a number of US firms have complained that
                         gating because their invoices are being falsified,   Mexican authorities hamper their operations
                         and they brought us the evidence,” the Mexican   through such practices as slow-walking permit
                         president added.                     awards and conducting frequent audits. ™
                           He was speaking before a meeting with a del-
                         egation of US officials led by Secretary of State
                         Anthony Blinken. Lopez Obrador and Blinken
                         were due to conduct high-level talks on eco-
                         nomic collaboration, as well as trade disputes
                         involving US investors in Mexico.
                           Valero confirmed the president’s statement,
                         saying that it had “discussed with the Mexican
                         government some import and sales documents
                         that are believed to have been falsely created by
                         unknown third parties.” It also emphasised that
                         it was not being targeted in any investigations by
                         the Mexican government.
                           Lopez Obrador, for his part, said on Septem-
                         ber 12 that there would be penalties for any US
                         company found to be involved in the smuggling
                         of petroleum products in Mexico. He also said
                         his government had held negotiations with 18   The president reports on his meeting with Blinken (Photo: LopezObrador.org.mx)


       MP says Mexican government will keep




       providing extra funding to Pemex in 2023






                         MEXICO’S government will continue to pro-  continued to see Pemex as a top priority for
                         vide extra funding for the national oil company   government support. Next year’s budget “will
                         (NOC) Pemex next year but may revise its fore-  include projects that will propel more invest-
                         cast for crude prices upward, legislator Erasmo   ment” for the NOC, he said.
                         Gonzalez, who serves as chairman of the lower   “It’s important to continue bringing solidity
                         house’s Budget Committee, said last week.  to our oil company,” he remarked, without com-
                           Speaking with El Financiero in a telephone   menting on the size of the payments likely to be
                         interview, Gonzalez stated that Mexico City   made to Pemex.



       P6                                       www. NEWSBASE .com                      Week 37   14•September•2022
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