Shell’s plan to sell controlling interest at a Texas refinery to Mexico’s state-owned Pemex is delayed by a security review by the Committee on Foreign Investment in the United States (CFIUS). In May, Shell announced that it would sell its 50% interest in the 302,800-bpd refinery in Deer Park, Texas, to Pemex, with the deal expected to be concluded by as early as December 1. Under the agreement, Shell will continue controlling the chemical plants in Deer Park. Shell spokesperson Curtis Smith said the company now expected to close the deal by late 2021.
Lawmaker Brian Babin, who represents southeast Texas, on Tuesday, called the federal government to block the deal, saying Pemex lacked the technical expertise and safety record to operate the facility. Babin, who has openly criticised the sale since June, even requested a review by the US Treasury and Energy departments, arguing that the deal threatened US national security.
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Published on December 1, 2021 10:05 AM (GMT+8)Last Updated on December 1, 2021 10:05 AM (GMT+8)
