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Pemex gas station sign. (Image: Matthew Rutledge via Flickr)

Key Energy Services to pay $5M to settle bribes case

HOUSTON (AP) — A Houston energy company will pay $5 million to settle U.S. allegations of bribing a contract worker for Mexico’s state-owned oil company, Pemex.

The Securities and Exchange Commission reached the agreement with Key Energy Services Inc. The case involve $229,000 in payments by subsidiary Key Mexico from 2010 through 2013.

Key Energy, in the settlement, does not acknowledge or deny SEC allegations that it violated the Foreign Corrupt Practices Act.

An SEC statement Friday said Key Mexico paid the Pemex employee for advice and inside information. The data was used by Key Energy and Key Mexico in negotiating Pemex contracts.

Investigators say Key Mexico paid the Pemex employee through a consultant, although Key Energy didn’t authorize the agreement. Key Energy in 2014 uncovered the consulting firm’s relationship to the worker.

 

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