Shell's Deer Park refinery
Warning signs for Pemex refinery deal
Political downstream agenda and company track record cause unease over Texas refinery purchase
The $596mn acquisition of Shell’s Texas Deer Park refinery by Mexican NOC Pemex is facing increased political hostility in the US after Republican Congressman Brian Babin filed a letter of complaint to Secretary of Energy Jennifer Granholm calling on the deal to be annulled. Babin expressed concerns with the firm’s lack of operational expertise and highlighted potential security risks associated with a foreign state-owned business holding strategic control of US assets. If finalised, Pemex would take a 100pc stake in the refinery, giving the company access to 340,000bl/d in downstream processing capacity. None of Pemex’s six existing Mexican refineries has the operational complexity of Deer
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready
