Mexican President Andres Manuel Lopez Obrador says that the United States Government has approved Petroleos Mexicanos’ bid to purchase Royal Dutch Shell Plc’s Deer Park refinery.
Pemex has been waiting for approval from the U.S. Treasury Department to purchase Shell’s stake in the Deer Park refinery.
The purchase of the Deer Park refinery will cost Pemex $1.2 billion. This is part of Mexico’s plan to increase state control of energy markets and refine all of its own oil.
Source: Bloomberg, “U.S. Authorizes Pemex Purchase of Shell Refinery, AMLO Says,” by Amy Stillman and Cyntia Aurora Barrera Diaz, December 22, 2021