PEMEX, a Mexican owned oil company, introduced a new compliance requirement that requires oil suppliers and contractors to submit information on their current compliance programs. While some partner companies could face difficulties in complying with the new requirements and may have to make significant changes, those who are deemed to have a strong compliance program will be rewarded points from Procure, a new automated process PEMEX created.
The new requirement was created by Jose Antonio Gonzalez Anaya, past CEO of PEMEX from 2016 to 2017, who expressed his desire to boost PEMEX’s compliance, and Carlos Treviño Medina, who carried on the project when Gonzalez moved on to his current position as the Secretary of Finance and Public Credit of Mexico. With the help of funding from the United States Agency for International Development, (USAID) issued via a grant for legal, financial consulting and other related expenses, PEMEX utilized global compliance programs as inspiration, and benchmarked global practices that proved to be successful.
PEMEX is also in the process of implementing a Code of Ethics, Code of Conduct and other various regulations in regards to practices such as gift giving. All gifts are required to be delivered to the reception area, and will be returned to the sender if the gift does not comply with Mexican laws.
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