“Purchase of Deer Park refinery to be settled in January” AMLO

FILE - In this Aug. 31, 2017, file photo, a flame burns at the Shell Deer Park oil refinery in Deer Park, Texas. Mexico's President Andres Manuel Lopez Obrador said Monday, May 24, 2021, that it will buy Shell's 50% share in the jointly owned Deer Park refinery. (AP Photo/Gregory Bull, File)

December 27, 2021 (AP).- During the press conference on Monday, December 27, the President of Mexico, Andrés Manuel López Obrador (AMLO), announced that In January 2022, the purchase of the Deer Park refinery will be settled, because the country has sufficient resources to carry out this business transaction.

He also said that the resources were achieved thanks to a reserve in the budget because there was a saving last year and that money was set aside for the purchase of the refinery.

Likewise, this business will be possible because the US government has already authorized the purchase of the refinery, being a great opportunity for Mexico to produce its own fuel at a more accessible price for Mexicans.

Deer Park refinery purchase closes in January

Mexico has the resources to make the purchase The refinery was a business with Pemex in the United States. (Photo: American Post)

The president pointed out that the Treasury will value what is best for Mexico since it will choose to pay the debt in the times in which it was contracted, although all this depends on the agreement that can be obtained in the negotiations.

He was forceful when he said that the operation will be liquidated in January because when the purchase offer was made, the authorization of the North American government was still pending.

“We offered to buy the part of Mexico and Shell accepted”.

López Obrador

For this type of contract, the United States Department of State, the Treasury, the Secretary of Energy, and other agencies must intervene.

It has been shown what the refinery bought by Pemex is like and that it has been defended by Andrés Manuel López Obrador (AMLO) since he announced his intention to acquire the refinery.

Where is the Deer Park Refinery located?

The refinery was a business with Pemex in the United States. (Photo: American Post)

It is located in Houston, Texas. It was founded in 1992 in a joint venture between Pemex and Shell. Informed AmericanPost.News that since 2004, the company began to lose lawsuits against it, filed by environmentalists.

Likewise, it is hoped that after the purchase of the Deer Park refinery, the price of gasoline will finally decrease, or at least remain the same, since the production of fuel would be less expensive for Mexico (allegedly).

Source: American Post



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