Pemex refinery deal may cost US$1bil more

In the limelight: An aerial view of the Royal Dutch Shell Plc’s Deer Park refinery in Texas. Pemex has requested about US$1.6bil (RM6.76bil) to acquire the Houston-area refinery. — Reuters

MEXICO CITY: Petroleos Mexicanos (Pemex) could end up spending about US$1.6bil (RM6.76bil) to take over Royal Dutch Shell Plc’s Deer Park refinery, more than twice the price announced in May, even as its finances are so dismal the government is injecting billions of dollars into the state oil producer.

Pemex, as the company is known, has requested about US$1.6bil (RM6.76bil) to acquire the Houston-area refinery, including a capitalisation from Mexico’s National Infrastructure Fund and a bridge loan from commercial banks, according to Pemex documents seen by Bloomberg.

Start your ads-free experience now!

Monthly Plan


Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Pemex , refinery , Deer Park , Mexico ,


Next In Business News

Cabnet Holdings unit bags RM46mil sub-contract works
SC appoints Mohammad Faiz Azmi as new executive chairman effective June 16
Account 3 withdrawals have no influence on EPF's investment strategy
He taught at MIT, worked at Morgan Stanley, and convinced Bill Ackman and Galaxy to back his RM940mil crypto fund by his early 30s. His future is now in jeopardy
Sapura Energy says no adjustments needed after unqualified opinion on audited FY24 financials
Oil slips on US growth worries, ample crude supply
Temasek to finalise deal with Shell for Pavilion Energy LNG asset sale, sources say
SNS Network rides AI server boom with Main Market transfer
South Korea's short-selling ban to stay through Q1 2025, regulator says
Asia stocks gain, bond yields fall on Fed outlook; Europe seen lower

Others Also Read