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Mexican oil (Pemex) took control of the refinery on Thursday Deer Park, in Houston, Texas, after finalizing the acquisition of 50% of this plant from Royal Dutch Shell.

Pemex Y Shell In May 2021, they announced the operation for 596 million dollars with which the state production company would become the sole owner of the refinery, of which in 1993 it had acquired 49.9% of the shares.

With this purchase, the commitment of the government of Andrés Manuel López Obrador is reaffirmed so that Mexico achieves energy self-sufficiency, together with the construction of the Dos Bocas refinery in Tabasco and the rehabilitation of the coking plant in Tula, Hidalgo.

Photo EE: Courtesy / Twitter @Pemex

In a statement, the oil company explained that the financial transaction was concluded under the agreed terms, after last December the Committee on Foreign Investment of the United States (CFIUS, for its acronym in English) authorized the purchase-sale operation by not identify competition and national security risks to the United States.

Additionally, the remaining debt was settled for the 596 million dollars that

correspond to 50% of Pemex’s participation; the resources for the operation were covered by the National Infrastructure Fund (Fonadin),” explained Pemex.

After finalizing the purchase of 50% of Shell’s shareholding, Octavio Romero Oropez, CEO of Pemex, attended the first session of the Deer Park Board of Directors on January 20, made up of officials from the oil company:

  • Ulises Hernández Romano, CEO of PMI International Trade.
  • Victor M. Navarro Cervantes, corporate director of planning and performance.
  • Marcos M. Herrería Alamina, corporate director of administration and services.
  • Jorge L. Basaldúa Ramos, head of Pemex Industrial Transformation.
  • Manuel Flores Camacho, CEO of PMI North America.

Pemex He highlighted that with the formation of this council, the aim is to guarantee that the strategic decisions on one of the flagship projects of the 4T are made by

the Mexican Government.

According to Petróleos Mexicanos, the refinery Deer Park It has crude oil processing capacity of 340,000 barrels per day. It can process heavy and light crude oil without generating fuel oil. Produces

around 110,000 barrels per day (Mbpd) of gasoline, 90 Mbpd of diesel and 25 Mbpd of jet fuel, in addition to other products. It is characterized by its good performance and utilization above 80 percent.

The head of Pemex reiterated that technical and administrative efficiency will be maintained, and work will be done so that the refinery “works properly.” Likewise, in a message to the workers of the oil company, he welcomed the “Pemex Deer Park” refinery and assured that “the continuity of safety and reliability projects” will be supported.

President López Obrador has said on several occasions that with control of Deer Park and the Olmeca (Dos Bocas) refinery in Tabasco, Mexico will be able to achieve energy self-sufficiency because it will stop importing fuel and exporting crude oil by 2024, without explaining how. the country will offset these revenues by sales abroad.

Pemex’s six refineries in Mexico are processing around 700,000 barrels per day on average, well below their combined capacity of 1.5 million barrels per day.

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www.eleconomista.com.mx

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