Daily Management Review

Mexican company acquires US refinery in Houston


Mexican oil and gas corporation Pemex has completed its acquisition of a 50.005% stake in the Deer Park refinery complex in Houston from Shell, becoming the sole owner of the facility.

Matthew Rutledge
Matthew Rutledge
"The purchase of the Deer Park refinery, located in Houston, Texas, has been successfully completed through the acquisition of a 50.005% stake held by Shell. 

The Mexican state has thus gained full control of the facility, and it is under the control of Pemex as of today," the company said in a statement on its website.

The deal, approved in December 2021, was worth $596 million. The Houston facility is capable of processing 340,000 barrels of oil per day.

source: bloomberg.com