Deer Park deal dogged by Pemex’s past

Deer Park deal dogged by Pemex’s past

Mexico City, 23 December (Argus) — Pemex's lack of international refinery operating experience and its poor emissions and safety record hangs like a shadow over its recently approved buyout of partner Shell's stake in the 340,000 b/d Deer Park refinery in Texas.

State-owned Pemex does have a long track record of managing another facility only about an eight-hour drive from the Texas refinery — the 275,000 b/d Cadereyta refinery on the outskirts of Monterrey, closer to the US than to the company's own headquarters in Mexico City. But it is not a history that would reassure lawmakers and others who have had reservations about the planned purchase — even though Shell has said the core refinery management team at Deer Park will stay on as Pemex employees.