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Mexico’s State-Run Oil Trader Bans New Business With Trafigura

Fondo de Valores Inmobiliarios, Empresario, Businessman, Banquero, FVI, Constructor
Arrancó campaña electoral para las internas del PSUV en el estado Bolívar

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community Trade Now My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics Trade Now Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 1 hour Sell Buy 71.51 -0.14 -0.20% Brent Crude • 32 mins Sell Buy 73.29 -1.47 -1.97% Natural Gas • 1 hour Sell Buy 3.617 +0.003 +0.08% Heating Oil • 1 hour Sell Buy 2.113 -0.031 -1.44% Gasoline • 1 hour 2.246 -0.005 -0.21% Louisiana Light • 2 days 73.71 -2.18 -2.87% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Louisiana Light • 2 days 73.71 -2.18 -2.87% Bonny Light • 16 days 74.16 -0.45 -0.60% Opec Basket • 2 days 75.29 +0.16 +0.21% Mars US • 1 hour 69.80 -1.48 -2.08% Gasoline • 1 hour 2.246 -0.005 -0.21% Click Here for 150+ Global Oil Prices

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1D 1M 3M 1Y All Charts Products Discussion Headlines 56 mins Mexico’s State-Run Oil Trader Bans New Business With Trafigura 2 hours EU Court Says Russia Should Limit Gas Supply To Europe 4 hours China & Nord Stream-2 Top Agenda As Biden Meets Merkel 7 hours IEA: Renewables Growth Can’t Meet Surging Electricity Demand 8 hours Iran To Resume Nuclear Talks After New Government Is Formed 24 hours The OPEC+ Stalemate Isn’t Over Just Yet 1 day U.S. Looks To Slash Long-Duration Energy Storage Costs By 90% By 2030 1 day Nigeria May Finally Approve New Oil Bill After 2 Decades Of Work 1 day Countering China’s Dominance In The Rare Earths Sector 1 day EU Proposes Jet Fuel Tax In Latest Ambitious Climate Package 1 day Shell’s Brazilian JV Seeks $13.5 Billion Valuation In IPO 1 day U.S. Waives Sanctions On Frozen Iranian Oil Funds 2 days Oil Falls Slightly Despite Crude Draw 2 days Saudis Set To Stick To Spending Discipline Even If Oil Prices Rise 2 days The World’s First Small Nuclear Reactor Is Now Under Construction 2 days Oil & Gas Share Of Russia’s GDP Dropped To 15% In 2020 2 days IEA: Global Refining Throughput To Jump This Summer 2 days Shipping Firms Look To Prevent Illicit Ship-To-Ship Oil Transfers 2 days Yellen Urges Development Banks To Stop Fossil Fuel Funding 3 days U.S. Oil Industry Sees More M&A Dealmaking As Prices Rise 3 days Private Investors Shun India’s Coal Projects 3 days Energy Executives Dominate Houston’s Highest Earners List 3 days Foreign Oil Companies Hopeful After Mexican Mid-Term Election 6 days Brazil Plans To Be 5th-Largest Crude Exporter By 2030 6 days Canada’s Oil Sands Need $60 Billion To Achieve Net-Zero Emissions 6 days Angola Kicks Oil Privatization Into Overdrive 6 days Nio Plans 4,000 Battery-Swapping Stations By 2025 6 days U.S., Colombian ‘Hit Squad’ Assassinated Haiti’s President 7 days India’s New Oil Minister To Focus On Boosting Production 7 days $70 Oil Isn’t Enough To Stabilize Iraq Right Now: Moody’s 7 days Argentina To Sanction Oil Firms Drilling Off Disputed Falklands 7 days Hydrogen Wars: The UAE And Saudi Arabia Are Battling For Dominance 7 days Senior U.S. And Saudi Officials Meet Amid OPEC+ Impasse 7 days US Embassy Targeted On Third Day Of Attacks in Iraq 8 days Ship Explosion Rocks Dubai Port 8 days API Reports Seventh Straight Inventory Draw 8 days China’s Crude Imports Jumped Nearly 9% In June 8 days U.S. Shale Races To Hedge Production Amid OPEC+ Uncertainty 8 days U.S. Fossil Fuel Consumption Plunged Most On Record In 2020 8 days Haiti’s President Assassinated As Violence Escalates 3 minutes Tesla is the Most American Made Car! 7 minutes Should the US government be on the hook for $15 billion? 11 minutes Forecasts for oil stocks. 4 hours GREEN NEW DEAL = BLIZZARD OF LIES 12 mins U.S. Presidential Elections Status – Electoral Votes 15 mins Severe Drought in the West Will Greatly Reduce Electrical Production from Hydroelectric Turbines. 10 hours What happens when the Chinese decide to deprive you of their vast market? 31 mins China Producing Half of the Worlds Electrical Vehicle Batteries is Experiencing Explosive Pollution 23 hours COVID restrictions and number of COVID deaths 19 hours Top Google Engineers Say Renewable Energy Simply Won’t Work 6 hours Electric cars may make driving too expensive for middle classes, warns Vauxhall chief 3 days Survival of Oil and Gas industry. Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Breaking News: Mexico’s State-Run Oil Trader Bans New Business With Trafigura

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Home Latest Energy News Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community Trade Now My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics Trade Now Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 1 hour Sell Buy 71.51 -0.14 -0.20% Brent Crude • 32 mins Sell Buy 73.29 -1.47 -1.97% Natural Gas • 1 hour Sell Buy 3.617 +0.003 +0.08% Heating Oil • 1 hour Sell Buy 2.113 -0.031 -1.44% Gasoline • 1 hour 2.246 -0.005 -0.21% Louisiana Light • 2 days 73.71 -2.18 -2.87% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Louisiana Light • 2 days 73.71 -2.18 -2.87% Bonny Light • 16 days 74.16 -0.45 -0.60% Opec Basket • 2 days 75.29 +0.16 +0.21% Mars US • 1 hour 69.80 -1.48 -2.08% Gasoline • 1 hour 2.246 -0.005 -0.21% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

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Marine • 16 days 72.62 -0.13 -0.18% Murban • 16 days 73.78 +0.19 +0.26% Iran Heavy • 16 days 69.70 -0.10 -0.14% Basra Light • 16 days 75.51 +0.45 +0.60% Saharan Blend • 16 days 74.12 -0.24 -0.32% Bonny Light • 16 days 74.16 -0.45 -0.60% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Bonny Light • 16 days 74.16 -0.45 -0.60% Girassol • 16 days 74.45 -0.32 -0.43% Opec Basket • 2 days 75.29 +0.16 +0.21% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 2 days 58.22 -2.11 -3.50% Western Canadian Select • 16 hours 59.83 -2.12 -3.42% Canadian Condensate • 16 hours 72.13 -2.12 -2.86% Premium Synthetic • 16 hours 73.53 -2.12 -2.80% Sweet Crude • 16 hours 68.63 -2.12 -3.00% Peace Sour • 16 hours 67.13 -2.12 -3.06% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Peace Sour • 16 hours 67.13 -2.12 -3.06% Light Sour Blend • 16 hours 68.88 -2.12 -2.99% Syncrude Sweet Premium • 16 hours 71.43 -2.12 -2.88% Central Alberta • 16 hours 67.18 -2.12 -3.06% Click Here for 150+ Global Oil Prices

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Louisiana Light • 2 days 73.71 -2.18 -2.87% Domestic Swt. @ Cushing • 17 hours 68.25 -1.50 -2.15% Giddings • 17 hours 62.00 -1.50 -2.36% ANS West Coast • 1 min 76.62 +1.14 +1.51% West Texas Sour • 17 hours 65.60 -1.48 -2.21% Eagle Ford • 17 hours 69.55 -1.48 -2.08% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Eagle Ford • 17 hours 69.55 -1.48 -2.08% Oklahoma Sweet • 17 hours 68.25 -1.50 -2.15% Kansas Common • 2 days 63.50 -2.00 -3.05% Buena Vista • 2 days 77.22 -2.12 -2.67% Click Here for 150+ Global Oil Prices

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1D 1M 3M 1Y All Charts Products Discussion Headlines 56 mins Mexico’s State-Run Oil Trader Bans New Business With Trafigura 2 hours EU Court Says Russia Should Limit Gas Supply To Europe 4 hours China & Nord Stream-2 Top Agenda As Biden Meets Merkel 7 hours IEA: Renewables Growth Can’t Meet Surging Electricity Demand 8 hours Iran To Resume Nuclear Talks After New Government Is Formed 24 hours The OPEC+ Stalemate Isn’t Over Just Yet 1 day U.S. Looks To Slash Long-Duration Energy Storage Costs By 90% By 2030 1 day Nigeria May Finally Approve New Oil Bill After 2 Decades Of Work 1 day Countering China’s Dominance In The Rare Earths Sector 1 day EU Proposes Jet Fuel Tax In Latest Ambitious Climate Package 1 day Shell’s Brazilian JV Seeks $13.5 Billion Valuation In IPO 1 day U.S. Waives Sanctions On Frozen Iranian Oil Funds 2 days Oil Falls Slightly Despite Crude Draw 2 days Saudis Set To Stick To Spending Discipline Even If Oil Prices Rise 2 days The World’s First Small Nuclear Reactor Is Now Under Construction 2 days Oil & Gas Share Of Russia’s GDP Dropped To 15% In 2020 2 days IEA: Global Refining Throughput To Jump This Summer 2 days Shipping Firms Look To Prevent Illicit Ship-To-Ship Oil Transfers 2 days Yellen Urges Development Banks To Stop Fossil Fuel Funding 3 days U.S. Oil Industry Sees More M&A Dealmaking As Prices Rise 3 days Private Investors Shun India’s Coal Projects 3 days Energy Executives Dominate Houston’s Highest Earners List 3 days Foreign Oil Companies Hopeful After Mexican Mid-Term Election 6 days Brazil Plans To Be 5th-Largest Crude Exporter By 2030 6 days Canada’s Oil Sands Need $60 Billion To Achieve Net-Zero Emissions 6 days Angola Kicks Oil Privatization Into Overdrive 6 days Nio Plans 4,000 Battery-Swapping Stations By 2025 6 days U.S., Colombian ‘Hit Squad’ Assassinated Haiti’s President 7 days India’s New Oil Minister To Focus On Boosting Production 7 days $70 Oil Isn’t Enough To Stabilize Iraq Right Now: Moody’s 7 days Argentina To Sanction Oil Firms Drilling Off Disputed Falklands 7 days Hydrogen Wars: The UAE And Saudi Arabia Are Battling For Dominance 7 days Senior U.S. And Saudi Officials Meet Amid OPEC+ Impasse 7 days US Embassy Targeted On Third Day Of Attacks in Iraq 8 days Ship Explosion Rocks Dubai Port 8 days API Reports Seventh Straight Inventory Draw 8 days China’s Crude Imports Jumped Nearly 9% In June 8 days U.S. Shale Races To Hedge Production Amid OPEC+ Uncertainty 8 days U.S. Fossil Fuel Consumption Plunged Most On Record In 2020 8 days Haiti’s President Assassinated As Violence Escalates 3 minutes Tesla is the Most American Made Car! 7 minutes Should the US government be on the hook for $15 billion? 11 minutes Forecasts for oil stocks. 4 hours GREEN NEW DEAL = BLIZZARD OF LIES 12 mins U.S. Presidential Elections Status – Electoral Votes 15 mins Severe Drought in the West Will Greatly Reduce Electrical Production from Hydroelectric Turbines. 10 hours What happens when the Chinese decide to deprive you of their vast market? 31 mins China Producing Half of the Worlds Electrical Vehicle Batteries is Experiencing Explosive Pollution 23 hours COVID restrictions and number of COVID deaths 19 hours Top Google Engineers Say Renewable Energy Simply Won’t Work 6 hours Electric cars may make driving too expensive for middle classes, warns Vauxhall chief 3 days Survival of Oil and Gas industry. Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Breaking News: Mexico’s State-Run Oil Trader Bans New Business With Trafigura

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Home Latest Energy News Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

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Share Facebook Twitter Linkedin Reddit Related News Nigeria May Finally Approve New Oil Bill After 2 Decades Of Work Countering China’s Dominance In The Rare Earths Sector EU Proposes Jet Fuel Tax In Latest Ambitious Climate Package Shell’s Brazilian JV Seeks $13.5 Billion Valuation In IPO U.S. Waives Sanctions On Frozen Iranian Oil Funds Mexico’s State-Run Oil Trader Bans New Business With Trafigura By Julianne Geiger – Jul 15, 2021, 4:29 PM CDT The commercial arm of the state-run oil giant in the world’s fourth-largest oil products importer has banned any new business with global commodity trader Trafigura AG, according to documents seen by Reuters , as the investigations surrounding the global oil trader’s role in alleged corruption continues.

The commercial arm of Mexico’s state-run oil giant, Pemex, has temporarily banned all new business with Trafigura.

It follows crude oil trader PMI Comercio International’s similar action earlier this month, canceling new business interactions until further notice.

All other divisions within Pemex continue to do business with Trafigura.

And it’s not just Trafigura that is in the hot seat.

Over the past two years, some of the world’s largest oil traders have become the envy of many smaller traders for managing to pull some outlandish profits amid one of the worst oil crises in history. These traders, including Big Oil companies and independent traders, have been doing a rip-roaring business ostensibly by following Warren Buffett’s mantra of being greedy when others are fearful and having access to esoteric resources such as giant underground storage caverns.

But those profits came at a price . Some of those large traders gained the upper hand through underhanded deals. Vitol Group, the world’s largest oil trading firm, agreed in December to pay a shockingly small fine and disgorgement of $164 million to the DOJ and CFTC for oil bribes in Brazil, Mexico, and Ecuador. Vitol has also been saddled with penalties by the CFTC for attempting to manipulate two S&P Global Platts physical oil benchmarks.

Meanwhile, Trafigura is facing a lawsuit in Brazil that seeks damages from the company and its former executives on corruption allegations involving Petrobras. The lawsuit is seeking to freeze $187 million of the defendants’ assets.

By Julianne Geiger for Oilprice.com

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