National security review stalls sale of Shell U.S. refinery to Mexican state oil firm

Asia's Tech News Daily

National security review stalls sale of Shell U.S. refinery to Mexican state oil firm
© Reuters/ADREES LATIF FILE PHOTO: An aerial view of the Shell Deer Park Manufacturing Complex is seen in Deer Park, Texas,

By Erwin Seba

HOUSTON (Reuters) – A national security review has delayed the sale of Royal Dutch Shell’s controlling interest in a Texas refinery to Mexico’s national oil company Petroleos Mexicanos (Pemex), Shell said on Tuesday.

Shell in May disclosed a sale of its 50% interest in the 302,800 barrel-per-day (bpd) Deer Park, Texas, refinery outside Houston to partner Pemex for about $596 million. The closing was expected as early as Wednesday.

Approval by the powerful federal Committee on Foreign Investment in the United States (CFIUS) is last hurdle to transfer full control of the Texas refinery to Pemex, said people familiar with the matter.

“While we were hopeful we could conclude the sale of the Deer Park refinery earlier in the CFIUS review process, we’re still targeting late 2021 as a closing date for the transfer of Shell’s interest in the refinery,” said Shell spokesperson Curtis Smith.

National security review stalls sale of Shell U.S. refinery to Mexican state oil firm
© Reuters/THILO SCHMUELGEN FILE PHOTO: Shell launches REFHYNE hydrogen electrolysis plant in Wesseling

Pemex did not immediately reply to a request for comment.

A spokesperson for CFIUS declined to comment.

“There’s no new closing date,” one of the people familiar with the matter said. “Could be next week. Could be early next year.”

U.S. Representative Brian Babin, a Republican representing southeast Texas, in June said he had “significant concerns” about the deal and called upon U.S. Treasury and Energy departments to do a full review of the sale.

“This transaction creates a tangible public health and environmental risk to the Texas residents who work at and live in proximity to the Deer Park facility, as well as an economic risk to those with a stake in the financial well-being of the company,” Babin wrote in a letter to two departments.

Babin said he was “not confident Pemex has the corporate wherewithal to operate such a facility in the United States,” according to his June 21 letter to Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm.

Under the sale agreement announced in May, Shell will retain control of its the Deer Park facility’s chemical plant and the company will have only one refinery in the United States, the 230,611-bpd plant in Norco, Louisiana.

(By Erwin Seba; additional reporting by Alexandra Alper in Washington and Stefanie Eschenbacher in Mexico City; editing by David Evans)

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Family of 4, Including Infant, Found Frozen Near Canada Border — Suspect Arrested for Human Smuggling

© Provided by People Getty Images Getty The frozen bodies of four people, including an infant, were found near the Canadian border on Wednesday, and a Florida man has been ... Read more »

Devin Gordon: 'Overwhelming' response as £16,000 raised to help family of 13-year-old who died in Bathgate with funeral costs

© Devin Gordon, 13, tragically died this week and countless people have paid tribute to the young foot… Nicola Boyd, the mother of a boy who played in the same ... Read more »

'Gentle' France lags behind eager EU neighbours in race to vaccinate kids as Omicron rages

© Michel Euler, AP Photo As France’s bid to vaccinate 5- to 11-year-olds against Covid-19 hits the one-month mark, progress remains ploddingly slow, light years behind many EU neighbours. As ... Read more »

Brian Laundrie claimed responsibility for Gabby Petito's death in his notebook: FBI

Brian Laundrie took responsibility for the death of his fiancée, 22-year-old Gabby Petito, in a written statement investigators found in his notebook, according to the Federal Bureau of Investigation. © ... Read more »

Civil servants ordered back to office after Covid restrictions lifted in England

Civil servants have been ordered to return to the office, with government departments told to rapidly get back to “full occupancy” after the lifting of plan B Covid-19 restrictions in ... Read more »

Sinema faces Democratic Party backlash after blocking voting rights legislation

Arizona Sen. Kyrsten Sinema is facing new heat from those who helped elect her after she and Sen. Joe Manchin of West Virginia this week were the only two Democrats ... Read more »

Center for Covid Control: Federal inspectors investigating 'numerous complaints' about labs and testing sites

The Centers for Medicare & Medicaid Services is investigating “numerous complaints” about labs and testing sites associated with the Center for Covid Control, the agency confirmed to CNN Friday. © ... Read more »

USMNT's Josh Sargent Scores First Two Premier League Goals, Including Absurd Scorpion Kick

© Provided by Sports Illustrated Josh Sargent’s first Premier League goal for Norwich City was absolutely sensational, and his second wasn’t too shabby either. View the original article to see ... Read more »

69 percent oppose overturning Roe v. Wade: CNN poll

© Getty Images Abortion supporters at Supreme Court A majority of Americans oppose overturning Roe v. Wade, the landmark Supreme Court decision that established a person’s constitutional right to abortion. ... Read more »

House panel obtains Trump records after Supreme Court ruling

© Provided by Associated Press FILE – The White House in the background, President Donald Trump speaks at a rally in Washington, Jan. 6, 2021. The House committee investigating the ... Read more »

US charges Texas man with threatening Georgia election officials

The United States Department of Justice has charged a Texas man with posting an online threat against election officials in Georgia, a US state that former President Donald Trump has ... Read more »

Gunfire Erupts at Ritzy Playa del Carmen Resort, One Dead

© Provided by The Daily Beast Quintana Roo Defense Department A shooting at a ritzy resort near Cancun left one Canadian dead and two others injured Friday, Mexican authorities said. ... Read more »

Wildlife YouTuber discovers new species of tarantula

JoCho Sippawat, known for his videos about Thailand's wildlife, discovered the first known tarantula to live exclusively inside bamboo stalks. Read more »

Joe Schoen takes over Giants with a Bill Parcells seal of approval

If you are a true football guy, chances are that Bill Parcells will like you. New Giants GM Joe Schoen is a football guy. “I like Joe,” Parcells told the ... Read more »

German museum identifies objects likely stolen from Africa

© Provided by DW Researchers Karin Guggeis (l) and Albert Gouaffo have led the investigation into objects in the museum’s collection The Five Continents Museum in Munich on Friday announced ... Read more »

Interview| A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC – ‘FPIs to find India relatively more attractive versus other EMs in 2022'

© Provided by The Financial Express ‘We are witnessing that the worst impact of pandemic on economy is behind, and steady improvement in growth,’ Balasubramanian says Inflows by Foreign Portfolio ... Read more »

Mariska Hargitay: Law & Order's Olivia 'In Love' With Elliot for Years

Be still our shipper hearts! After a lengthy will-they-or-won’t they relationship on Law & Order: Special Victims Unit, Olivia Benson and Elliot Stabler are endgame, show star Mariska Hargitay has confirmed. ... Read more »

Robredo: Infrastructure program to focus on 3 areas, public-private partnerships

© Jay Ganzon/OVP VP Leni Robredo visits Swab Cab in Antipolo City, Jan. 17, 2022. Photo by Jay Ganzon/OVP Vice President Leni Robredo said Friday that if she is elected ... Read more »

No At-Home function in Chandigarh on Republic Day

© Provided by Hindustan Times Police personnel rehearsing for the Republic Day parade at the Sector 17 Parade Ground in Chandigarh. (Keshav Singh/HT) In view of the sharp increase in ... Read more »

Jason Pierre-Paul questionable for Bucs after missing practice all week

Buccaneers head coach Bruce Arians said that center Ryan Jensen and right tackle Tristan Wirfs are both going to be game-time decisions for Sunday’s game against the Rams and they ... Read more »

This Under-the-Radar Caribbean Island Might Just Be a Better Alternative to St. Barts

© Provided by Fodor’s If you are one of the few savvy travelers who have heard of Canouan, it’s probably in whispers as a billionaire’s getaway in the Caribbean. The ... Read more »

Art Fair Philippines 2022 Has Been Postponed

© Provided by Spot.ph Back in February 2020, right before the global pandemic changed our lives. PHOTO BY facebook/art fair philippines © Provided by Spot.ph Back in February 2020, right ... Read more »

Moderna to manufacture over three billion doses of Covid vaccine in 2022

© Provided by The Financial Express Moderna would continue to scale up in 2022 to take the vaccines to more places. Biotechnology company Moderna, is expecting to making over three ... Read more »

Canada poised to unveil ‘further support' for Ukraine amid Russian aggression: Anand

Defence Minister Anita Anand says she expects to be able to unveil details “very shortly” about additional Canadian support for Ukraine as the country stares down the threat of Russian ... Read more »

Few admissions during 5th wave question need for ongoing curbs

© Provided by Hindustan Times The Covid-19 care centre at the Shehnai Banquet hall. (HT Photo) At no point since cases of Covid-19 began surging in the Capital this year ... Read more »

Why crude oil prices are soaring once again

© Provided by India Today Global crude oil prices have risen substantially in the past 30 days, inching toward the $90 a barrel mark and igniting concerns of higher inflation ... Read more »

Chandigarh tricity's daily Covid cases recede after climbing for three days

© Provided by Hindustan Times Sanitisation underway at UT Guest House, Chandigarh, after 55 guests and staff members tested positive for Covid-19 on Friday. (HT Photo) In some sign of respite, the ... Read more »

Combining lime with Viagra makes drug up to four times more potent

A SQUEEZE of lime can make fellas extra zesty in bed, experts claim. A study suggests blokes should combine it with Viagra for better results. Combining lime with Viagra makes ... Read more »

I care for my sick mum in our council flat…and now I've won a scholarship to Eton

A BRIGHT schoolboy who cares for his disabled mum in their council flat has won a scholarship to Eton. Ilyan Benamor, 15, will rub shoulders with the elite at the ... Read more »

Dani Dyer shares new snap of footballer boyfriend Jarrod Bowen and calls him ‘so hot'

DANI Dyer gushed over her footballer boyfriend Jarrod Bowen as she shared a new snap of him. The 25-year-old was first linked to the £18million West Ham winger, 25, back ... Read more »

Nasa reveals incredibly rare footage of a solar flare being fired from the Sun

NASA has revealed stunning footage of a solar flare in action. The US space agency posted the clip to its popular Instagram account and it's racked up almost 1 million ... Read more »

Shocked cops stop speeding Mercedes going 145mph on motorway – only to discover driver is still a LEARNER

MOTORWAY cops stopped a car that hit 145mph — and found the driver was a learner. The male motorist hurtled along the M6 in a Mercedes S350. The learner driver ... Read more »

Toddler cut free by firefighters after getting head stuck in training toilet

A TODDLER had to be cut free by firefighters after getting his toilet training seat wedged around his neck. Edward Johnson, who is almost two, was dancing around with it ... Read more »

Eastenders fans in US left fuming after show is AXED stateside despite viewers being 13 years behind UK

EASTENDERS fans in the US have been left hanging after the BBC pulled 13 years’ worth of episodes. Albert Square lovers in the States are watching shows from 2009 — ... Read more »

Jack Harrison's model girlfriend Fiorella Arbenz poses on beach in mesh bikini

THERE’S no substitute for model Fiorella Arbenz, according to Leeds United’s Jack Harrison. The Costa Rican beauty and her winger beau both 25, have been dating since 2020. Jack Harrison's ... Read more »

Kim Kardashian shows off killer curves in blue bikini on the beach during sexy SKIMS photoshoot

KIM Kardashian showed off her killer curves while modeling in a stunning blue bikini on the hot beach during her sexy SKIMS photoshoot.  Kim, 41, headed out on a tropical ... Read more »

We’re happy to inform you that Apple’s isn’t requiring verification for education discounts anymore

© Image: Apple At some point in the last month, Apple introduced a new verification process in the US that tried to ensure customers who want to benefit from its ... Read more »

All LEAP Exosuits and their abilities explained

© Provided by Dot Esports LEAP, the new 60-player first-person shooter that evokes thoughts and feelings of the classic shooter Tribes, is now in playtest on Steam. The developer of ... Read more »

3 talking points as Rangers inspired by Alex Lowry thump Stirling Albion in Scottish Cup rout

Teenage debutant Alex Lowry inspired a much-changed Rangers to Scottish Cup fourth round victory over Stirling Albion. The 18-year-old replaced the injured Ianis Hagi – a fresh concern for the ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic