Pemex-UIF Agreement to Combat Hydrocarbon Theft

Pemex and the Ministry of Finance and Public Credit (HCP), through the Financial Intelligence Unit (UIF), have signed a collaboration agreement to combat financial crimes and hydrocarbon theft.

According to a press release, this agreement “builds on the work being carried out by the UIF and PEMEX” against the illicit fuel market. The report mentions the “financial intelligence and operational capabilities to detect networks linked to the theft and illegal sale of hydrocarbons” are part of the group. In addition, it gets identified the financial structures and the role they play in disrupting the logistical, commercial, and economic chains that support these activities.

Under the agreement, Pemex will provide the UIF with financial, economic, accounting, legal, and administrative information to help it identify and prevent “transactions involving funds of illicit origin,” including acts of corruption, fraud, hydrocarbon theft, and other crimes that constitute illegal activity.

Meanwhile, has been clarified: the Financial Intelligence Unit (UIF) will share intelligence products with Pemex to assist in the identification, prevention, monitoring, and assessment of risks related to its financial activities and those of its subsidiaries.

Both institutions also aim to develop training programs in operational and strategic analysis; this collaboration strengthens the institutional capacities needed to identify and report suspected cases of corruption, fraud, and other misconduct affecting the energy sector and the assets of the Mexican government.

These measures are expected to strengthen coordination among institutions in order to protect the integrity of the country’s financial systems and strategic resources, in accordance with the national legal framework and the international standards of the Financial Action Task Force (FATF).