Pemex would pay more than double for the Deer Park refinery in Texas


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

Petróleos Mexicanos will have to pay Shell for assets The refinery has a large debt

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 refinery is in great debt

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.

Follow us on Google News, Facebook and Twitter to stay informed with today’s news!


Related Posts

They find the bodies of 3 minors in Texas, two of them were murdered

They find the bodies of 3 minors in Texas, two of them were murdered

Texas.- Two 17-year-old girls and a minor under 15 years of age, were found dead on January 18 at a home about 25 miles northeast of Houston, Texas, local authorities said. Police believe that due to signs of trauma found in the victimsit can be a double homicide and later the guilty took his own…
They find a dead man in the streets of eastern Mérida

They find a dead man in the streets of eastern Mérida

A person unidentified was found after lose his life, this Thursday morning in the streets of the neighborhood Melchor Ocampo, located at east of the city of Merida. The subject, who is presumed to be a man on the street, was walking on the Calle 51 Diagonal between 12 and 10-B of the aforementioned housing…
Infonavit adjusts credits that are paid based on UMA

Infonavit adjusts credits that are paid based on UMA

Infonavit adjust credits that are paid based on AMU, the mechanism aims reduce impact of these increases in the economy of the accreditedyes And it is that with the beginning of a new year the UMA is modified in diverse credits. Although in this case the institute stressed that it will apply a 4.99% increase…
44 million dollars of private investment in Mexico at risk due to electricity reform: US Senators

44 million dollars of private investment in Mexico at risk due to electricity reform: US Senators

Washington, United States.- Before the “harmful” energy policies and the future approval of the electricity reform Promoted by President Andrés Manuel López Obrador (AMLO), Democratic senators from the United States urged Joe Biden to break the silence around this situation due to the loss of private investment in Mexico. It was through a two-page letter,…
Joe Manchin and Kyrsten Sinema: The Democratic Senators Who Stopped the Voting Rights Bill

Joe Manchin and Kyrsten Sinema: The Democratic Senators Who Stopped the Voting Rights Bill

After the blockade of Voting Rights Act by the Republican Party. representatives democrats opted for a second vote to change senate rules and advancing legislation that protects the integrity of voters and facilitates access to the polls. However, Democratic Senators Joe Manchin Y Kyrsten Synema They opposed modifying the Senate rules and letting die an…