Mexico City.- Mexico’s President Andrés Manuel López Obrador (AMLO) reported that purchasing the Deer Park refinery, located in Houston, Texas, Petróleos Mexicanos (Pemex), will increase its production of crude barrels, reaching one million 362 thousand barrels per day. The AMLO government filed a report on Pemex’s new purchase from Shell by the Deer Park oil refinery, of which the parastatal already owned 50% of the company’s shares.
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Andrés Manuel celebrated the complete purchase of the refinery, which will increase the country’s self-sufficiency in different aspects such as oil extraction that will become fuels. Read more: Fossil fuel use will increase in the future: Pemex advocates buying Deer ParkOctavio Romero Oropeza refinery, director of Pemex, said that over the next 30 years, demand for fuels will increase considerably in the international market, so Mexico must be prepared to continue with access to gasoline.
“While it is true that European countries and the U.S. will reduce their demand, emerging economies such as India, China and Latin America will increase significantly among its consumption,” said La Mañanera Romero Oropeza.Pemex’s director reiterated the importance of self-sufficiency, highlighting that 45% of gasoline was purchased abroad, since since 2019, exports have declined by 61% due to the strategy of combating fuel theft and the crisis that caused the pandemic Covid-19.As for diesel, 27% was imported and in 2018 it rose to 77%, since in the current administration, its export has decreased by 60%. Pemex buys Deer Park
For a total of 600 mdd, Pemex took 100% of the shares of the Deer Park refinery in Houston, Texas, on May 24, President Andrés Manuel reported.” 50% of the shares were purchased because the other 50% was already Pemex and in this way we already have a new refinery, this Houston refinery has the capacity to process 340 thousand barrels per day,” AMLO said. Read more: Saint Lucia in the eye of the hurricane, is key to Mexico’s air-class recoveryThe president assured that the Board of Directors of Pemex, the world’s most indebted oil company, unanimously approved the purchase, the details of which will be reported at its morning press conference on Wednesday. The refinery will be in addition to the six that already exist in Mexico and to which the Government of López Obrador builds in Tabasco, in the southeast of the country.
