Mexico Plans to Enforce Odebrecht Fines via Seizure

Wednesday, October 10, 2018

Mexico plans to enforce fines imposed on Odebrecht over corruption allegations by confiscating some $30 million owed by state oil company Pemex to the Brazilian firm, a top official at the public administration ministry said.

Christian Ramirez, coordinator-general of the public administration ministry (SFP), told Reuters on Tuesday that he expected Mexico's tax authority to seize the $30 million "in the coming months."

Brazilian construction firm Odebrecht has spent the past few years at the center of one of the largest corruption scandals in Latin America, and has admitted paying bribes from Peru to Panama.

In Mexico, the SFP imposed fines worth some $56.8 million in total on two Odebrecht subsidiaries in April. Since the end of 2017, it has punished several Odebrecht businesses in Mexico, barring them from signing contracts with public bodies for up to four years.

Mexico's government did not detail the reasons for the fines, but officials said they related to probes into suspected corruption between Odebrecht and Pemex.

Ramirez on Tuesday said the Brazilian firm had "practically left" Mexico and that tax officials who recently visited an Odebrecht subsidiary only found "two computers and a desk."

Neither Odebrecht in Mexico nor in Brazil responded to requests for comment. In April, the company said it planned to fight the fines.


(Reporting by Lizbeth Diaz and Diego Ore, Editing by Rosalba O'Brien)

Categories: South America North America Finance Government Update Legal Industry News

Related Stories

Aker Solutions Lands Major Role in Qatar’s Offshore Oil Field Revamp

Aramco Targets Hormuz Bypass with East-West Pipeline Expansion

CNOOC Set to Restore Production at Major South China Sea Gas Field

Big Oil Pockets Near-Record Profits but Spending Restraint Signals Long-Term Doubts

CNOOC Starts Up Nine Oil and Gas Projects as Production Hits Record

Woodside Exit Sends East Timor Searching for Greater Sunrise Partner

Inpex Moves $21B Indonesian LNG Project Closer to Investment Decision

Woodside Agrees to Sell Greater Sunrise Stake to TIMOR GAP for Up to $200M

Indonesia Cuts Singapore Pipeline Gas Flows by 9% to Meet Domestic Demand

Yinson Production Raises $1.46B to Refinance Agogo FPSO

Current News

Velesto’s Jack-Up Rig Up for Drilling Job with Petronas

Tender-Assist Rigs: Southeast Asia’s Quiet Workhorses Head for Full Utilization

Aker Solutions Lands Major Role in Qatar’s Offshore Oil Field Revamp

TotalEnergies Inks 15-Year LNG Supply Deal with China's Jiangsu Guoxin

Baker Hughes Sets Up Global Network to Bolster Mature Oil and Gas Fields Production

Valaris Secures $600M in New Contracts as Backlog Rises to $4.8B

Production Restart at Australian Offshore Fields Boosts Jadestone's Oil Output

Aramco Targets Hormuz Bypass with East-West Pipeline Expansion

ADES Lands New Offshore Drilling Rig Deals in Angola and Indonesia

Shell to Exit Australia's North West Shelf Project in $1.45B Deal with XRG

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com