Register now for FREE unlimited access to Reuters.com. MEXICO CITY, Dec 22 (Reuters) – The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell’s (RDSa.
Correspondingly, Who owns Pemex in Mexico? Pemex
| The Torre Ejecutiva Pemex in Miguel Hidalgo, Mexico City | |
|---|---|
| Total assets | US$101.800 billion (2019) |
| Total equity | −US$105.980 billion (2019) |
| Owner | Mexican Government |
| Number of employees | 124,818 (2018) |
Who controls Pemex? Petróleos Mexicanos. Petróleos Mexicanos, byname Pemex, state-owned Mexican company, a producer, refiner, and distributor of crude oil, natural gas, and petroleum products. It is one of the largest petroleum companies in the world.
Furthermore, Is Pemex still a monopoly?
Pemex, Mexico’s state-owned petroleum company, has enjoyed a monopoly on petroleum for the past 8 decades, but its last monopoly—retail gas—has now been broken.
Why Shell sold Deer Park refinery?
Expected to close in the last quarter of 2021, Shell said the transaction allows it to further focus its refining footprint, while also “maintaining integration optionality and retaining value through its chemicals and trading activities.”
Who owns Deer Park refinery? Deer Park Refinery is an oil refinery located in Deer Park, Texas on the Houston Ship Channel in the Greater Houston area. Dating to 1929, it has been operated since 1993 as a 50-50 joint venture between Shell US and Pemex .
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Deer Park Refinery.
| Refinery details | |
|---|---|
| Owner(s) | Pemex |
| Commissioned | 1929 |
| Capacity | 275,000 bbl/d (43,700 m 3 /d) |
Why is there only Pemex in Mexico? Mexico, with about a third of U.S. production, has only 6! PEMEX is prohibited from partnering with foreign companies within Mexico, but not abroad. So Mexican crude is shipped to Houston, Texas, where it is refined (in partnership with Shell) and then re-imported to Mexico.
Why is Pemex in debt? Pemex, one of the world’s most indebted oil companies, has struggled with 17-years of declining crude production and in 2020 lost its coveted investment-grade rating.
Where does Pemex get its oil?
Asia is the second most important region for Pemex’s crude after North America, with Indian and South Korean refiners leading Asian purchases until last year, according to company and Eikon data. In India, the main buyers of Pemex’s Maya and Isthmus crudes last year were Indian Oil Corporation Ltd (IOC) (IOC.
Is Pemex the only gas station in Mexico? Pemex gas stations are the only official outlets where you can purchase fuel in Mexico. The unleaded gasoline is called ‘Magna Sin’, which is supposed to have an octane rating of around 90.
Does Pemex have a monopoly in Mexico?
PEMEX (Petróleos Mexicanos) is Mexico’s state oil monopoly. PEMEX is protected from competition in Mexico, where it enjoys a legal monopoly on the exploration, processing and sale of petroleum.
Who is the owner of Deer Park refinery? On January 20, 2022, Shell completed sale of their interest in the Deer Park refinery to Pemex.
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Deer Park Refinery.
| Refinery details | |
|---|---|
| Owner(s) | Pemex |
| Commissioned | 1929 |
| Capacity | 275,000 bbl/d (43,700 m 3 /d) |
Who owns Shell Deer Park refinery?
A Pemex subsidiary has completed a deal with former 50-50 joint venture partner Shell PLC subsidiary Shell Oil Co. to acquire full ownership of Shell Deer Park Refining LP’s 340,000-b/d refinery in Deer Park, Tex.
How much did Pemex pay for Shell?
Shell Oil Co., the U.S. subsidiary of Royal Dutch Shell, had owned the refinery for more than 90 years. Now, Pemex — which owned half the company — bought Shell’s 50 percent ownership for $596 million in cash and debt.
How many oil refineries are in Mexico? Mexico has six refineries: Salamanca, Tula, Nuevo León, Minatitlán, Dos Bocas and Santa Cruz, which are operated by Petróleos Mexicanos (Pemex), the state-owned oil company.
Who owns Shell worldwide? The “Shell” Transport and Trading Company, a U.K.-registered company, has a 40% interest in the group, and the remaining 60% is owned by the Royal Dutch Petroleum Company, a Netherlands company. Collectively, the group is involved in oil and gas exploration, production, refining, transportation, and marketing.
Did Mexico buy an oil refinery?
20, 2022 6:33 p.m. Mexico’s state-owned oil company on Thursday closed the deal to acquire its first U.S. refinery, planting Petroleos Mexicanos’ flag firmly in Greater Houston as others back away from fossil fuels. Shell Oil Co., the U.S. subsidiary of Royal Dutch Shell, had owned the refinery for more than 90 years.
Did Mexico buy a refinery in Texas? Pemex and Shell in May announced the transaction, which is worth almost $600 million and will make the Mexican firm the sole owner of the refinery near Houston. The facility has capacity to process 340,000 barrels per day (bpd).
How old is Deer Park refinery?
Deer Park being situated along the Houston Ship Channel was chosen as the site for a new crude oil refinery. The Shell Pipe Line Company built a pipeline that stretched for over four hundred miles from McCamey, Texas to the new refinery. Operations began at the refinery August 13, 1929.
Where is Mexico’s petroleum industry located? Cantarell Field is the largest oil field in Mexico and one of the largest in the world producing. As of Jan 2001, Mexico has approximately 10.42 billion barrels (1.657×109 m3) in proven oil reserves.
Why is Pemex so important?
At its foundation, PEMEX became one of the world’s largest oil companies and a potent symbol of Mexican sovereignty. PEMEX was granted a monopoly not only of ownership but also of production, refining, and distribution of petroleum products within the country, permitting only very limited foreign participation.
Does Mexico have petroleum? Mexico holds 9,711,000,000 barrels of proven oil reserves as of 2016, ranking 17th in the world and accounting for about 0.6% of the world’s total oil reserves of 1,650,585,140,000 barrels. Mexico has proven reserves equivalent to 13.0 times its annual consumption.
