Mexico to buy Shell share of Texas refinery for $600 million

Its state-owned Pemex oil company pledged to operate the plant in an environmentally responsible way.

MEXICO CITY — Mexico said Monday it will buy Shell’s 50% share in the jointly owned Deer Park refinery near Houston for about $600 million.

The move comes as part of President Andres Manuel Lopez Obrador’s central policy to build, acquire or renovate oil refineries, in an era when most countries are trying to reduce their reliance on fossil fuels.

https://www.dallasnews.com/business/energy/2021/05/24/mexico-says-it-will-buy-shell-share-of-texas-refinery-for-600-million/