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Pemex Lawsuit Over ‘Stolen’ NGL Dismissed In Houston

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June 2, 2014

Shell Chemical LP, ConocoPhillipsCo. (NYSE: COP) and Marathon Petroleum Co LP won dismissal of a lawsuit claiming they unknowingly bought stolen natural-gas condensate from a smuggling ring that Mexico’s national oil company has been unable to stop on its side of the border.

Pemex Exploracion y Produccion, the state oil company’s exploration unit, brought several lawsuits against U.S. refiners in Houston federal court, claiming they facilitated a black market in NGL, even if the companies didn’t know they were buying from thieves.

Pemex said armed bandits have stolen more than ...

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