Shell divests half stake in refinery

The oil giant strikes a deal with partner Pemex, which gains full ownership of Texan refinery Deer Park in a transaction exceeding half a billion dollars.

Photo: Toby Melville/Reuters/Ritzau Scanpix

Oil supermajor Shell has entered an agreement with partner Pemex, which will take over full ownership of the Deer Park refinery in the US state of Texas.

Until now, Shell and Pemex has split ownership of Deer Park evenly, but now the latter acquires Shell's half in a transaction totaling USD 596m, writes Shell in a press release.

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