Latin America Business News
Pemex Sues BASP Corporation Over Illicit Fuel Sales
Mexico’s state oil monopoly Pemex sued BASF Corporation, the German chemical group, and several other US-based energy trading companies for illicit fuel sales. This case is part of an ongoing investigation into a multi-million-dollar market of contraband fuel smuggled across the border by Mexican organized crime groups.
Pemex is discovered in an investigation, “BASF Corporation and Murphy Energy Corporation have participated in, and have encouraged the illicit trafficking in the US of stolen condensate”, a type of liquid hydrocarbon extracted from gas fields.
For their part BASF claimed that “We acquired material but we were completely unaware that this was stolen.” Five people have been arrested for their involvement of the case and are awaiting a sentence.