Mexico’s Pemex, Vitol reach graft settlement worth more than $30 million  

DealsEnergy

Reuters was first to report that the Mexican state energy company Pemex has received a settlement worth more than $30 million from Vitol, including a $23 million cash payment, over a graft scandal that halted deals with the Swiss-based trader, documents showed. 

Market Impact

In return, Pemex has lifted its three-year ban on business with the world’s largest independent commodities trader, according to the settlement, the terms of which have not previously been reported.