Trafigura Group Mexico Oil and Gasoline Director Katia Eschenbach has left the corporate because the nationalist power coverage in Latin America’s second-largest financial system poses challenges for buying and selling corporations.
Eschenbach had led the agency’s operations in Mexico for 12 years, with a purpose of making the most of the nation’s power market revamp beneath the earlier administration, in keeping with individuals with information of the matter. Eschenbach didn’t return messages looking for remark, and Trafigura stated in an announcement that it doesn’t touch upon personnel issues.
Trafigura, one of many world’s largest commodity buying and selling homes, is amongst quite a few overseas corporations which have confronted difficulties working in Mexico beneath President Andres Manuel Lopez Obrador’s nationalist power insurance policies, which have included canceling permits for gas imports and terminal tasks.
AMLO, because the president is thought, suspended Trafigura’s fuel-import contracts in 2021, claiming that the corporate was transporting contraband gas. Trafigura denied the accusation and resumed regular operations in Mexico final 12 months. The agency additionally was banned from buying and selling oil with Petroleos Mexicanos’ PMI unit amid allegations of corruption about two years in the past.