Page 6 - LatAmOil Week 37 2022

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