PEMEX’s e-BDI Database Recognized for Transparency Practices

The Mexican Stock Exchange praised PEMEX for its transparency portal as Mexico continues to fight for a much more transparent financial industry to fight corruption.

PEMEX received 100 out of 100 percentage points, the highest grade in the Global Compliance Index in Transparency Portals. According to a Mexican Stock Exchange (BMV) press release, the Mexican oil giant performed strongly, with the National Institute of Transparency, Access to Information and Protection of Personal Data (INAI) recognizing that the portals of PEMEX and two of its subsidiaries fully complied with transparency requirements. These portals were awarded “the highest rating in the contest.”

These portals have guaranteed proactive transparency, providing the general public more available information, claims the release. ‘PEMEX+Transparente’ was launched on Mar. 18, 2021, as the oil giant sook to provide open information for its main allies. “As part of this culture, PEMEX+Transparente is created, a computer solution, where Mexican society, suppliers, contractors and the general public can easily access Pemex public information,” reads its official website.

Out of the 77 transparency practices developed by 45 different institutions, only 11 received the highest recognition. PEMEX’s e-BDI Institutional Database houses data from the entire oil value chain and is updated daily, and the recognition is extremely important as the company seeks to regain trust from investors and the Mexican population.

PEMEX claims it will continue to work alongside the Transparency Obligation Portal System (SIPOT) as it seeks to further innovate on transparency matters to comply with a much more open system that can be used by the general public. “PEMEX reaffirms its commitment to transparency, accountability and recognizes that this achievement is for the benefit of society.”