Pemex arm fined by Mexican antitrust commission

MEXICO CITY, June 13, 2017 – Pemex Transformación Industrial (TRI) has been fined MXN 369 million (USD 20.3 million) for not meeting its obligations to foster a competitive fuel market, Mexico’s Federal Economic Competition Commission (Cofece) announced Monday.

According to the 2014 energy reform, Pemex is obligated to adhere to antitrust practices. Cofece’s fine is being imposed because the NOC’s downstream arm failed to cease “discriminatory treatment in the sales and commercialisation of special marine diesel market.”

 

In September 2016, TRI had been given an initial exemption from the antitrust commission, in exchange for a commitment to break its monopolistic practices in the fuel market.

Cofece alleges that TRI breached its obligations when it did not publish “the benefits conceived in the first-hand sale or marketing of petroleum products to any economic agent, as well as requirements to access them and the causes to revoke them” before a December 11 deadline.

TRI was also to have complied with several other orders, including publishing by November 11 a list of reasons it could use to justify the suspension of petroleum product sales, notifying the Energy Regulatory Commission of its commitments to Cofece, updating contracts to include oil tanker profits and provide monthly sale and marketing reports.

The NOC plans to challenge the Cofece’s findings.

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