Economy & Business - February 2022

MEXICO: Fuel self-sufficiency distant despite US refinery purchase

Mexico’s state-owned oil company Pemex formally took over the Deer Park refinery in Houston, Texas, on 20 January after it bought a 50% interest in the refinery from Anglo-Dutch multinational oil firm Royal Dutch Shell to become its sole owner. According to press reports, Pemex acquired the remaining 50% of the company for US$596m. The funds came from the national infrastructure fund (Fonadin).

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