Mexico’s state-owned oil giant, Pemex, agreed in May to buy Royal Dutch Shell Plc’s majority stake in the Deer Park refinery.
The Deer Park refinery posted a rare net loss of $360 million this year. Its forced shutdown in February led the refinery to post losses through July.
The refinery’s debt has soared past $1 billion in recent months. Officials involved shared information anonymously as they were not authorized to speak to the media.
Neither Pemex or Shell would comment when contacted.
Source: Bloomberg.com, “Pemex Is Buying a U.S. Refinery That Lost $360 Million This Year,” by Amy Stillman and Max De Haldevang, August 31, 2021