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MEXICO

Goldman Sachs In Dispute With Mexican State Owned Utility (CFE) Over Texas Freeze Trade

  • At issue: roughly $400 million the Wall Street bank believes it's owed from a natural-gas trade that went wild when a deep freeze hit Texas in February.
  • In private discussions with Goldman Sachs, state-owned utility Comision Federal de Electricidad has blamed rogue traders, allegedly prompting them to eject staff.
  • It's unclear how and when Goldman will be able to realize the money it insists it's owed, especially as CFE becomes a central part of the Mexican president's campaign to reshape the domestic energy market.

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