Reporting by Ana Isabel Martinez and Gary McWilliams, Reuters

MEXICO CITY/HOUSTON
EnergiesNet.com, 08 12 2022

U.S. refiner Valero Energy (VLO.N) has engaged in talks with the Mexican government over inflated invoices for fuel imports, President Andres Manuel Lopez Obrador said on Monday, and the company said the invoices were the work of unknown third parties.

The leftist leader met on Monday with a delegation led by U.S. Secretary of State Antony Blinken for high-level talks about economic cooperation and trading disputes involving U.S. companies in the Latin American country.

Lopez Obrador said during a media briefing before his session with Blinken that he had met 18 U.S. companies over investment issues and had reached agreement with most. But if U.S. companies are found to be involved in fuel smuggling in Mexico, they would face penalties, he said.

Mexico had noticed an “exaggerated invoicing of gasoline imports,” so it called in Valero Energy executives over the issue. The two sides have come to “an understanding,” he said.

“They explained to us that they are investigating because their invoices are being falsified, and they brought us the evidence,” Lopez Obrador said.

A Valero spokesperson told Reuters the company is not a target of any investigation.

“Valero has discussed with the Mexican government some import and sales documents that are believed to have been falsely created by unknown third parties,” a spokesperson said in an email.

Reporting by Ana Isabel Martinez in Mexico City and Gary McWilliams in Houston, writing by Marianna Parraga; Editing by Cynthia Osterman

reuters.com 09 12 2022