LatinNews Daily - 23 December 2021

In brief: Mexico confirms approval of Pemex’s US refinery purchase

*Mexico’s President Andrés Manuel López Obrador has confirmed that the US government has approved the purchase by state-owned oil firm, Pemex, of a controlling interest in Deer Park oil refinery located in Houston, Texas. The purchase, which was announced by the Mexican government on 24 May, had been pending approval from the US foreign investment committee (CFIUS), an inter-agency committee of the US government. Pemex, which had owned half of Deer Park through its subsidiary PMI-NASA since 1993, bought Anglo-Dutch multinational oil firm Royal Dutch Shell’s 50% interest in the refinery for US$596m. Pemex CEO Octavio Romero Oropeza said the purchase of Deer Park, which refines 340,000 barrels of crude per day, would be finalised at the start of 2022.

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