HomeNewsPemex is Buying Out Shell’s Interest in Shared Texas Refinery

You have reached your limit of free News posts.

Please sign up for one of our PREMIUM SUBSCRIPTIONS to continue your access to Global Energy Infrastructure. 

Pemex is Buying Out Shell’s Interest in Shared Texas Refinery

5/24/2021

Petroleos Mexicanos (Pemex) and Royal Dutch Shell announced in late May that they have reached an agreement for Shell to sell its interest in the long running Deer Park Refinery of Texas, which has been a 50/50 joint venture consisting of Shell subsidiary Shell Oil Company and Pemex subsidiary P.M.I. Norteamerica, S.A.  Once completed, this refinery will see Pemex take over 100% ownership of the facility. This announcement follows statements made earlier this month from Mexico’s President Manuel Lopez Obrador where he was critical of the Shell/Pemex venture, saying of this facility that “Since it was built, there have been no benefits for Mexico, barely the processing of Mexican crude.” Pem

LOG IN to view this news article.

Not Yet A Subscriber? Here are Your Options.

1) Sign up to receive our monthly newsletter here and gain access to all articles and resources.

2) SUBSCRIBE to Global Energy Infrastructure and gain ACCESS to premium data for the energy industry.*

 

*Access will be granted the next business day.