Mexican Petroleum to buy half of US oil refinery

The United States has approved the purchase of the Deer Park refinery in Houston by PetroleosMexicano (Pemex), Mexico's President said on Wednesday. During his morning conference, Andres Manuel López Obrador called the purchase historical. The purchase of Shell's 50 per cent stake will take place during the first weeks of 2022 in order to ensure a successful transfer of control. The deal is part of 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.