RIO DE JANEIRO, BRAZIL - (REUTERS) The commercial arm of Mexican state oil company Petroleos Mexicanos (Pemex) has temporarily banned new business with Trafigura AG, according to a document and a source, as investigations into the energy trader’s conduct in several countries deepen.
The world's largest independent commodity traders are facing scrutiny globally for alleged corruption after years of investigations into bribes of public officials in several countries in Latin America.
Pemex and other state oil companies have become wary of doing business with merchants, which include Trafigura and rival Vitol.
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