Foreign firms to get equal opportunity in Mexican selloff plans

Journal Article · Wed Mar 17 04:00:00 EST 1993 · Chemical Week; (United States)

OSTI ID:6490153

Wood, A; Alvarez, C

Petroleos Mexicanos (Pemex) has not finalized details of its long-awaited petrochemical privatization program. However, the state oil group has made it clear the selloff schedule, due to begin during the next two months, will give equal investment opportunity to foreign firms, dashing the hopes of Mexican groups that they would be given first right of refusal in the privatization program. Meanwhile, Pemex has agreed with Shell Oil on a previously announced refining joint venture involving Shell's 225,000-bbl/day refinery at Deer Park, TX. Under the plan, Pemex will purchase a 50% stake in the refinery and join Shell in a $1-billion upgrade with would enable it to handle more Mexican crude. Sources believe that Shell and other US oil groups are interested in acquiring assets from Pemex Petroquimica.

• OSTI ID: 6490153
• Journal Information: Chemical Week; (United States), Journal Name: Chemical Week; (United States) Vol. 152:10; ISSN CHWKA9; ISSN 0009-272X
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
CHEMICAL INDUSTRY
COOPERATION
DEVELOPING COUNTRIES
ENERGY SOURCES
FOSSIL FUELS
FUELS
INDUSTRIAL PLANTS
INDUSTRY
INVESTMENT
JOINT VENTURES
LATIN AMERICA
MEXICO
NORTH AMERICA
PETROCHEMICALS
PETROLEUM
PETROLEUM PRODUCTS
PETROLEUM REFINERIES
PROCESSING
REFINING