Shell to hand over Deer Park refinery to Pemex next week -sources – Reuters

Shell to hand over Deer Park refinery to Pemex next week -sources – Reuters

MEXICO CITY, Jan 13 (Reuters) - Mexican state oil company Petroleos Mexicanos will take control of the Deer Park refinery in Houston, Texas on Jan. 20, three sources with knowledge of the matter said on Thursday.

Royal Dutch Shell (RDSa.L) in May agreed to sell its majority stake in the Deer Park refinery, which can process up to 340,000 barrels per day (bpd), to Pemex (PEMX.UL), its long-time partner in the plant, for about $596 million.

"Next Thursday, the payment and transfer of the asset will happen," said a Pemex source, who spoke on condition of anonymity. "The refinery will then be operated directly by Pemex". read more