In May, Petróleos Mexicanos (Pemex) announced that he would buy the Deer Park refinery in Houston, Texas. On that occasion it was revealed that the company would pay $ 596 million for her, but everything seems to indicate that now she could pay one thousand 60 million dollars, that is to say, more than double.
According to the documents accessed by Bloombers, the total cost of the refinery would exceed 1,600 million dollars, a figure that far exceeds the amount originally disclosed.
Informed AmericanPost.News that when closing the agreement, Petróleos Mexicanos detailed that the purchase price included the Shell’s share of the company’s debt jointly with PMI, the commercial branch of the oil company, in which both partners had a 50 percent stake.
In such a way that the Deer Park refinery, located in Houston, Texas, would be bought by Petróleos Mexicanos for 596 million dollars for 50.1 percent of the shares that were owned by the Dutch company Shell.
Pemex will have to pay Shell for assets
The debt accumulated by the refinery is 980 million pesos, which must be paid for the sale to be carried out. But that’s not all because Petróleos Mexicanos too you will have to pay Shell for assets such as inventory.
As if that were not enough, the refinery inputs and merchandise for sale are an “additional amount” that will be paid at the time the sale is made and will be based on real volumes and prevailing market prices, the oil company said. Mexicana after announcing the purchase of the refinery.
What happened to the Deer Park refinery?
The situation is worrying for the Pemex company, because according to Bloomberg, so far this year the Deer Park refinery has added 380 million in total losses. It should be noted that according to President AMLO the investment in the Deer Park refinery will be recovered in two or three years.
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