Pemex responds to Oro Negro corruption claims

MEXICO CITY, July 26, 2018 – NOC Pemex has said it would defend itself from claims of corruption made by Mexican driller Oro Negro, local media reported on Wednesday.

The New York Times last week published an open letter from Oro Negro, asserting that the company was directly targeted for its refusal to pay bribes to Mexican officials, resulting in its current financial woes. The letter placed blame on former senior management at Pemex, bondholders and the Attorney General’s office, and said that Oro Negro had audio recordings to prove its claims.

Pemex has released a statement in response, questioning why these allegations were not made public sooner and urging Oro Negro to release the recordings. The NOC also said it would “continue defending itself from the unfounded claims filed against the company and the Mexican government.”

“We regret that Oro Negro was incapable of meeting the reasonable expectation of its clients, investors, creditors and employees, but this is no reason to allow the company to perniciously involve Pemex in its existing corporate problems,” Pemex’s statement said.

In 2016 and 2017, Oro Negro declined to modify day rates for rigs working for the NOC, choosing instead to terminate the contracts. The driller later filed for bankruptcy due to budget cuts and the lack of activity needed to sustain its operations.

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