Pemex Piss-Poor Planning -- June 5, 2021

 Re-posting.

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Pemex: Deer Park

Updates

January 20, 2022: deal closes. Pemex owns Deer Park. 

June 5, 2021: Pemex plans for Deer Park unlikely to work. And from ArgusMedia.

Original Post

Deer Park, Houston, TX, refinery: 50-50 joint venture between Shell and Pemex.

• Recently, Mexico's president voiced discontent with partnership. Says his country not seeing any benefit. That was May 6, 2021.

• Fast forward, to May 24, 2021: Shell accepts unsolicited offer from Pemex for Deer Park. Link at World Oil. Deal:
  

• $596 million, cash and debt;
• Shell will retain its on-site chemical facility