End of preview - This article contains approximately 1382 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
Economy & Business - June 2021
MEXICO: Concerns over cost and potential success of refinery purchase
The Mexican government disclosed on 24 May that state-owned oil company, Pemex, had completed the purchase for US$596m of the Deer Park oil refinery, located in Houston, Texas. Pemex stated that the decision to acquire Deer Park, which refines 340,000 barrels of crude per day, is part of its business strategy for Pemex to produce enough refined petrol fuels to cover Mexico’s national demand. Mexico’s finance ministry (SHCP) also said that the purchase was a strategic decision that guarantees the supply of petrol in case of emergencies, such as the hacking that US oil firm, Colonial Oil, suffered that affected its gas distribution operations. In such cases, the totality of Deer Park’s production would be sent to Mexico.
- Colombia loses investment grade with S&P
- PERU: Pension reform rises up the political agenda
- ECUADOR: Lasso faces political tightrope away from state-led development
- ECONOMIC HIGHLIGHTS
- CHILE: Uncertainty over constituent assembly
- BRAZIL: Central bank thinks digital currency
- BRAZIL: Bus company takes flight
- URUGUAY: IMF praises policies, but Covid flare-up poses challenges
- REGION: Brazil, Argentina, and Chile are leading the wind power race
- ARGENTINA: Where’s the beef?
- ECONOMIC HIGHLIGHTS
- CENTRAL AMERICA: Regional leaders emphasise importance of energy transition
- GUATEMALA: Controversial free trade zone reform approved
- THE BAHAMAS: Economic recovery at the mercy of politics
- ECONOMIC HIGHLIGHTS
- MEXICO: Concerns over cost and potential success of refinery purchase
- MEXICO: Markets react positively to new Banxico and SHCP appointees
- MEXICO: Downgrading of air safety rating will complicate airlines’ recovery
- ECONOMIC HIGHLIGHTS