Mexico will purchase Shell’s 50% share of the jointly owned Deer Park refinery for $600 million, officials said Monday.
President Andrés Manuel López Obrador’s central policy is to build, acquire or renovate oil refineries, and this purchase is part of that policy.
López Obrador sees oil as a key part of Mexico’s economic future.
The move is part of Shell’s strategy to consolidate oil refineries and transition to more renewable energy resources.
Source: ABC13.com, “Mexico to buy Shell share of Deer Park refinery for $600 million,” May 24, 2021