Mexico now has complete control of the refinery in Texas with the intention that all production be for internal supply of the Aztec country
Photo: Photo by FREDERIC J. BROWN / AFP / Getty Images
Sunday, November 17
Mexico wants to buy a Shell refinery in Texas
Petróleos Mexicanos, Pemex, announced in a statement that it would acquire the Deer Park refinery in Houston , Texas. This refinery had a participation 50 – 50 between the Anglo-Dutch refinery Shell Oil Company and the Mexican oil company.
This means that now Pemex will have control, it will be the owner at % of refinery in Texas . The president of the Aztec country, Manuel López Obrador has indicated that the cost of the 54 percent was approximately 12 billion pesos.
The Mexican government assures that neither debt nor credit was left with this purchase of the rest of the refinery that was missing from the country. In US currency, we are talking about 600 millions of dollars.
It should be noted that this refinery is one of the largest in the United States and has a capacity of 340 thousand barrels of crude oil daily. According to Shell data, the refinery in Houston has plants that process heavy and light crude without general fuel oil.
Fuel production is from 110 thousand barrels per day (Mbpd) of gasoline, 90 Mbpd of diesel and 25 Mbpd of jet fuel.
Lopez Obrador has explained that they will have the same capacity to refine fuel, as they currently have in the Do s Bocas, in Mexico: 340 thousand barrels per day.
These negotiations began in August of 2020 when Shell announced that it would sell some of its refineries. And since then the Mexican president said he was interested in buying , as long as the refinery was located in Houston, Texas.
In this sense, the director of Pemex, Octavio Romero Oropeza, said that they were months of negotiations until managed to close an agreement that included the inventory of crude oil and petroleum products.
The government of Mexico has a rehabilitation plan for the six refineries in the country, so that Petróleos Mexico covers the total demand for gasoline, diesel, jet fuel and other fuels. Pemex would reach a production of one million 362 thousand barrels a day said the president of the Aztec country, Manuel López Obrador.
AMLO let it be known that Mexico will now not sell crude oil abroad, The idea is that all production is for internal supply.
According to Pemex data, during the COVID pandemic crisis – the oil company had losses of 21, 417 million dollars in 2020 can be considered the greatest crisis in the history of the Aztec country’s fuel producer.
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