Tuesday, December 07, 2021

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Mexico announces buyout of oil refinery in Texas

Mexico announces buyout of oil refinery in Texas

Mexico, May 25 (Prensa Latina) Mexico´s President Andrés Manuel López Obrador coinfirmed that Royal Dutch Shell has agreed to sell its controlling interest in the Deer Park refinery in Houston, Texas, to its partner Mexican state-run oil company Pemex.
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In this way, President López Obrador posted on social networks, Mexico has a new oil refinery in addition to six others and the Dos Bocas refinery in Paraíso, Tabasco, currently under construction.

We received six refineries in poor condition. We are updating them. The Tula coker is also being restarted to expand refining capacity at such a plant and two other oil refineries.

We receive six refineries and we´re going to deliver eight. In this way, we are going to stop buying fuel and gasoline abroad,’ he added.

In his message on social networks, the Mexican president said that the refinery can process up to 340,000 barrels a day of oil into fuel. The recently acquired operation equates to the planned capacity of his pet project – the Dos Bocas oil refinery in southeast Mexico.

Pemex will have 100% of the shares. The most important thing is that in 2023, we will be self-sufficient in gasoline and diesel; there will be no increases in fuel prices, he tweeted.

He also explained that the Deer Park Refining Limited Partnership was a 50-50 joint venture between Shell and Pemex subsidiary P.M.I. Norteamerica S.A..

mh/pll/msm / lma

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