Mexico to buy Shell share of Texas refinery for $600 million

05/25/2021

Source: AP

MEXICO CITY (AP) — Mexico said Monday it will buy Shell’s 50% share in the jointly owned Deer Park refinery near Houston for about $600 million.

The move comes as part of President Andrés Manuel López Obrador’s central policy to build, acquire or renovate oil refineries, in an era when most countries are trying to reduce their reliance on fossil fuels.

“We are going to stop buying fuel abroad … we will become self sufficient by 2023,” said López Obrador, who is spending about $9 billion to build a similar-size new refinery in his home state of Tabasco.

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Mexico’s president criticizes Shell-Pemex joint venture in Texas refinery

05/06/2021

Source: Yahoo! News

MEXICO CITY, May 6 (Reuters) – Mexico’s president on Thursday criticized the partnership between state oil company Pemex and Royal Dutch Shell in a Texas refinery, saying it has not yielded any benefits for Mexico.

President Andres Manuel Lopez Obrador, an energy nationalist who has sought to revive the fortunes of the deeply-indebted Pemex, said that no profits have been repatriated to Pemex since the partnership with Shell was established in 1993 as they have all been re-invested.

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Shell becomes first oil company to join Mexico’s hedging program: Bloomberg

09/01/16 Reuters

shell by Azfar Hakim
Photo by Flickr user Azfar Hakim

Royal Dutch Shell Plc participated in Mexico’s oil hedging program for 2017, the first time an oil company has taken part in the world’s large commodities hedging program, according to Bloomberg, citing four people with knowledge of the matter.

Shell’s trading unit was one of the seven counterparties to the Mexican government, the report said, adding that their involvement is the first known participation since Mexico started to lock in prices regularly 15 years ago.

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Shell moves forward on major Gulf of Mexico platform

07/02/15 Yahoo News

Photo by Flickr user Azfar Hakim
Photo by Flickr user Azfar Hakim

Royal Dutch Shell announced it will build a deep-water platform in the Gulf of Mexico for its Appomattox field discovery with an estimated startup close to 2020. Shell said Wednesday it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global benchmark for oil prices stays above $55 a barrel. International benchmark crude was priced at more than $62 a barrel early Wednesday.

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US goes for border oil without Mexico (in Spanish)

El Universal, 4/5/2010

Oil companies that operate from the U.S. began to extract crude from the disputed area, Perdido, where Mexico and the United States share deposits.

As Pemex and the Secretary of Energy wait on a future bilateral negotiation to jointly develop trans-border deposits in the Gulf of Mexico, Shell and Chevron announced, on Tuesday,  the first production at the Great White, Silvertip and Tobago wells, where they hope to obtain up to 130 thousand barrels each day.

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Shell works to fix Gulf of Mexico pipeline leak

Photo by Flickr user Azfar Hakim
Photo by Flickr user Azfar Hakim
Bruce Nichols and Joshua Schneyer, Reuters, 7/28/2009

Shell and the U.S. Coast Guard rushed Tuesday to contain 1,400 barrels of crude oil spilled into the Gulf of Mexico from a leaking Shell-operated pipeline, fighting back an oil slick with skimmer ships and airplanes.

Shell discovered the leak Saturday on its 173,000-barrel-per-day (bpd) capacity Eugene Island oil pipeline, 30 miles from Louisiana’s coastline and 60 miles southwest of Houma, Louisiana.

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Calderon to Meet Oil Companies as Mexico Revises Industry

exxon
Pemex to discuss contact with companies such as ExxonMobil?

Bloomberg, 1/28/2009

Mexican President Felipe Calderon said he will meet with the heads of major energy companies at the World Economic Forum in Davos, as Mexico prepares to offer the first oil exploration contracts to foreign companies in 70 years. Calderon didn’t say which energy companies he plans to meet.

Pemex wants to discuss production and exploration contracts with companies including Exxon Mobil, Royal Dutch Shell Plc and Chevron, said Carlos Morales, director of exploration and production for Pemex, in an interview in November. The first external contracts may be awarded by the end of 2009, he said.

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