State-owned Petroleos Mexicanos, Pemex, cancelled three contracts with Vitol after the company refused Pemex’s proposed amendments to terms, BondEvalue reports.
In March 2021, Pemex sought to renegotiate contracts with Vitol following the company’s bribery scandal, which involved Pemex and Petroecuador.
Amongst the contracts that were cancelled are deals for butane gas, naptha and propane gas. The value of the cancelled contracts due until 2023 remains unknown.