Sale of Shell’s Deer Park refinery to Pemex delayed until 2022

Reuters. – Selling a majority stake in Royal Dutch Shell’s Deer Park refinery for Mexican state oil company Petróleos Mexicanos (Pemex) It has been postponed until next year, two people familiar with the matter said Thursday.

Review the agreement by US Committee on Foreign Investment, but there were additional delays, The sources said. Another person working on negotiations for Pemex noted that there was not enough time to close the deal this year.

In May, Shell published an agreement to sell its stake to its partner Pemex 50% at 302,800 barrels per day (bpd) Deer Park refinery in Texas, Outside of Houston, about $596 million. Authorities said the deal was expected to be finalized this month.

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A person who works in Deer Park, speaking on condition of anonymity because the information is not public, said workers at the Texas refinery were told the shutdown was “delayed until early next year.”

Pemex was not immediately available to discuss the matter. A Shell spokesman did not immediately respond to a request for comment on Thursday.

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