Mexico Makes Strategic Move To Snag U.S. Refinery

Shell has struck a deal with its partner in the Deer Park refinery, Pemex, to sell the facility. The deal was instigated by Pemex, not Shell. "Shell did not plan to market its interest in the Deer Park refinery; however, following an unsolicited offer from Pemex, we have reached an agreement to transfer our interest in the partnership to them," Shell's Downstream Director, Huibert Vigeveno, said in a press release. The $596-million deal for the Houston, Texas, facility will give Mexico's state-owned oil and gas company full control over the 340,000-bpd…