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ARTICLE · 26 NOVEMBER 2020

PMI Appointed State Marketer Following USD 2 Billion Financial Guarantee From Parent Pemex

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According with the current oil & gas regulatory framework, the Mexican Government must have a marketer that carries out the commercialization of hydrocarbons that correspond to it under the contracts for the exploration and extraction of hydrocarbons executed.

MexicoFinance and Banking
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According with the current oil & gas regulatory framework, the Mexican Government must have a marketer that carries out the commercialization of hydrocarbons that correspond to it under the contracts for the exploration and extraction of hydrocarbons executed through the National Hydrocarbons Commission (CNH). For this purpose, CNH, at the request of the Mexican Petroleum Fund for Stabilization and Development (Petroleum Fund), must contract a marketer through a public tender process. The Petroleum Fund must provide the minimum terms it requires for the correct provision of such marketing services, including the maximum acceptable price.

Considering that the contract for the commercialization of liquid hydrocarbons executed between the Mexican Government and Trafigura México, S.A. de C.V. was terminated on October 22, 2020 (before its expiration), and the contract for the commercialization of gaseous hydrocarbons with the same company concluded on October 23, 2020,

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