U.S. Authorizes Pemex Purchase of Shell Refinery, AMLO Says
- Mexico president says refinery takeover to cost $1.2 billion
- Pemex previously said purchase would cost $596 million
Photographer: F. Carter Smith/Bloomberg
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The U.S. government has authorized Petroleos Mexicanos’ bid to take over Royal Dutch Shell Plc’s Deer Park refinery, according to Mexico President Andres Manuel Lopez Obrador.
“It’s something historic,” the president, broadly known as AMLO, told reporters Wednesday.