Mexico's Pemex says new procurement rules aimed at combating graft

Mexico's state oil company Pemex [PEMX.UL] said on Wednesday that updated procurement policies, such as renegotiating service contracts and fewer no-bid purchases, have led to more than 24 billion pesos ($1.10 billion) in savings for the cash-strapped firm. Miguel Angel Servin, the company's top procurement executive, said in a phone interview that beyond the savings, which occurred over the past year, the bigger goal is to minimize acts of corruption in its purchases. For me, that's what's behi