Mexican President Andres Manuel Lopez Obrador on Monday said an ethane supply deal between state-owned Petroleos Mexicanos (Pemex) and Braskem Idesa was unfair and should be cancelled. The contract was agreed during the administration of President Felipe Calderon in 2006-2012. Braskem Idesa is a consortium of Odebrecht-controlled Braskem and Mexico’s Grupo Idesa was
In a Reuters report, Braskem Idesa said it won the contract fairly and said it had not participated in any illegal activity or corruption in Mexico. Under the terms of the agreement, Braskem Idesa has had to pay for ethane supplied by Pemex at below current market prices. Braskem Idesa said the price levels are typical for long-term raw material contracts.
