Prosecutors in Mexico have opened a corruption investigation against former President Enrique Peña Nieto. It comes after Emilio Lozoya, the ex-head of the state energy firm, accused Peña Nieto of taking millions of dollars in bribes and bribing MPs.
Spanish police this week arrested Emilio Lozoya, the former chief executive of Mexico’s state oil firm Pemex, giving President Andres Manuel Lopez Obrador his first high-profile win in his government’s anti-corruption drive.
Repsol appointed Deutsche Bank AG to advise it on the compensation pre-settlement it reached with Argentina regarding the seizure of 51% of YPF in April 2012. The arrangement was negotiated in Buenos Aires this week by ministers from Argentina and Spain, Repsol executives, and representatives from the Spanish company’s two largest shareholders, Mexico's Petroleos Mexicanos, Pemex and Barcelona-based CaixaBank SA.
The dispute between the Argentine government and Repsol over the seizure of a 51% stake in petroleum company YPF has shown some signs of cooling, with the Ministry of Economy announcing on Monday that an agreement in principle for compensating the Spanish corporation had been reached.
YPF Chief Executive Officer Miguel Galuccio said Argentina’s nationalized energy company is willing to form a partnership with Mexico’s state-run Petroleos Mexicanos to develop shale oil and natural gas deposits in the Vaca Muerta formation.