Norway’s US dollar 1.8-Trillian sovereign wealth fund, the world’s largest, has sold all its sustainable income investments in Mexico’s state-owned Petrolios Mexicanos (Pemex), which announced on Sunday. It quoted that the lack of transparency in corruption was the main reason for the exclusion.
“Investigations suggest that Pemex may be incorporated in Mexico during 2004-2023, with suspicions of corruption,” the Fund’s Editing Committee and the Ethics Council said in a statement.
“The council is important to say that a significant number of corporate employees, including a former senior executive, are said to have been bribed on many separate occasions.”
The Watch Talk report has cited investigations such as the Odebrex Corruption and former Pemex CEO Emilio Losao for defrauding a fertilizer plant in Varagruz and for other high -level pemex scam.
Norway’s wealth is operated under the guidelines determined by Norway’s Parliament and is seen as a leader in environmental, social and administrative practices.
As of last June, the fund was worth about 8 138 million in Pmex Security.
Pemex The congregation was addressed On Monday, it was said that he immediately responded to the demands of the wealth fund. However, the Monitoring Committee confirmed its recommendation for withdrawal of investments.
Although the Monitoring Committee agreed that Bmex had a anti -corruption system, it said the oil company could provide little information on how computer practice works.
The report said, “There are adequate information, especially in the media about corruption in 2017.”
In addition, the report exposed the allegations of bribery from some suppliers and other companies in exchange for contracting processes. Many former Pemex staff involved, and many cases have been legal solutions in the United States.
Will the Bemex thrives under the new leadership?
Bmex’s debt is currently about 100 billion Billion. The previous Lopez Oprador administration pledged economic support to help alleviate financial burdens, which is an activity The administration of President Claudia Shinbam continues.
In October, Watter Rodriguez was appointed as the new CEO of Bhmex, and announced the new era. A Internal pemex document At that time, the company made plans to create new business samples to attract investment during the administration of Shinbam 2024–2030.
In the first quarter of 2025, 43.3 billion Beesos ($ 2.2 billion) fell in the net and fell in oil production, Pemex said.
(Tagstotranslate) Norway Pemex
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