OECD report says reforms haven't changed Pemex' s "patronage, nepotism, corruption and outright fraud"
By Alma Hernandez
Reforma
The Organization for Economic Cooperation and Development (OECD) says Pemex suffers from internal power struggles between federal government officals and the company's professional advisers.
As a result, says a report conducted by OECD at Pemex's request, the state-owned energy company is losing its strategic objective of creating value.
The influence of various federal agencies in Pemex operations, the report said, results in a general public perception that as Pemex board members, they use inside information for "patronage, nepotism, corruption and outright fraud."
With regard to professional advisors, created as a result of the oil reforms in 2008, the OECD reports that, far from helping in the decision-making, they have hampered the operation, using their positions on the board to check the decisions of Pemex's chief executive.
"The appointment of the four professional counselors does not seem to have changed much the status quo," the report said.
