Pemex board reportedly opens corruption investigations

According to columnist Ana Paula Ordorica, the Pemex board of directors opened investigations into three issues that occurred  when Emilio Lozoya was head of the state oil company:  contracts with the Brazilian contractor Odebrecht, the purchase of two fertilizer companies,  and the acquisition of nine aircraft.

Lozoya, a close personal friend of Enrique Peña Nieto, was CEO of Pemex from the beginning of the EPN government in Dec. 2012 to Feb. 2016.

Odebrecht has confessed to paying US$10.5 million in bribes to Pemex officials,  during both the Calderón and EPN governments. (The Odebrecht contracts have been put under seal.) Little apparent progress has been made by Mexican authorities in pursuing a corruption case that was handed them on a silver platter.

In Jan. 2014 and Jan. 2016, Pemex inexplicably purchased two fertilizer manufacturing companies for a total of US$730 million, for reasons that have never been explained adequately.  (The documents justifying the purchase were also placed under seal for 12 years.)  In January 2017, the company hired UBS to sell the money-losing operations.

Finally, Pemex purchased 5 airplanes and 4 helicopters while Lozoya was CEO for almost US$100 million “to strengthen Pemex’s operational capabilities.” However, according the audits of the company, at least four of the aircraft were never entered as assets in the company’s books, and they appear to have been used for personal purposes.

Comments are closed.