Pemex Compliance Overview
What is Pemex Compliance?
Pemex anti-bribery compliance is well-established in Pemex legislation. It protects and prevents bribery in the company’s operations, and it protects customers and projects in Mexico.
Pemex’s compliance with its constitutional duty and value creation mandate have led to a constant evolution and modernization of its processes. This has rendered results that are becoming increasingly important to the future and evolution of Pemex.
Pemex Constitutional Duty
It is through Pemex’s compliance efforts that the company has established its technological process.
Through Pemex contracts the company was able to increase its execution and production capacity. By complying with the Constitutional duty, the process has been transparent.
Pemex’s compliance to its own constitution helped the company to enforce its maintenance and exploration processes. Pemex has designed and executed improved procurement and supply processes in order to expedite projects’ execution and increase profitability.
The legal framework of Pemex has made possible to have room for improvement in certain areas, as well as possible solutions oriented towards achieving economic benefits.
Pemex’s compliance has been crucial in the development of the growth and transparency of the company. The results have been an active economy and good relationships with foreign companies.
Pemex Code of Ethics
The Pemex Code of Ethics established rules that prevent improper behaviors by promoting honest and ethical performance.
This Code of Ethics addresses the following:
- Handling apparent or real conflicts of interest between personal and professional relationships.
- Complete, impartial, consistent, timely and comprehensible disclosure of reports, notices and documents presented by Petróleos Mexicanos to financial authorities and investors.
- Compliance with laws and other applicable provisions.
- Prompt report of infringement of this regulation.
- Liability derived from adhering to this Code.
The code covers Petróleos Mexicanos, Subsidiary Entities and Subsidiary companies. It also enforces the compliance of any authority, whether domestic or foreign, to which Petróleos Mexicanos should provide information to. Probably most importantly, the code also covers investors, which means any individual or company, entitled to know Pemex’s information.