Oil and gas group Shell sells 50 percent of its interest at a large deer park refinery near Houston in the US state of Texas.
The interest will be sold to Shell’s co-partner Mexican Bemex for $ 596 million at the deer park.
Deer Park is one of the largest oil refineries in the United States with a production capacity of 340,000 barrels per day (from 159 liters). The shell has been around since the late 1920s, according to its own website.
Bemex, a Mexican state oil company, has been a partner of Shell since 1993, each with a 50 percent interest in deer park refining. Mexican President Andres Manuel Lpez Obrador has said that with the full acquisition of the refinery, Mexico will be self-sufficient in its own gasoline production. Mexico currently has the lowest refining capacity to meet its own fuel needs. The sale is scheduled for completion later this year.
Shellman Park also has a chemical plant on site. The company is the owner.
The British-Dutch concern also sold a refinery in the state of Washington earlier this month. The refinery had a capacity of 149,000 barrels per day and was sold to the American refinery Holyfrandier. It was also announced last week that Shell was selling its subsidiary to Malampaya Energy, a local energy company in the Philippines. Shell has been selling assets for some time, to some extent reduce debt.
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