LatAm Briefs: Pemex Deer Park Refinery Deal, Lasso Sworn In

(Energy Analytics Institute, 25.May.2021) — Energy briefs from the Latin America and Caribbean region including: Pemex’s Deer Park refinery acquisition being labeled a mistake by George Baker and Ecuador’s President Guillermo Lasso taking the helm in the South American oil producing country.

Pemex Deer Park Deal A Mistake

Pemex’s purchase of Shell’s interest in the Deer Park refinery is a mistake, says George Baker, publisher of the Mexico Energy Intelligence newsletter.

“It is a mistake, as it cuts Pemex off from the lifeline of global innovation that Shell brings to the table, based on its experience with refineries around the world,” Baker wrote 25 May 2021 in a Twitter post.

“The proposed purchase of Shell’s 50% interest in the Deer Park refinery is to be condemned as another example of self-isolating import-substitution, amen, nationalization by another name. A policy of autarky in refining cuts the lifeline to global innovation,” Baker also said.

Ecuador’s President Guillermo Lasso Takes The Helm

Ecuador’s President Guillermo Lasso was officially sworn into office on 24 May 2021. Lasso is set to serve as the South American country’s president from 2021-2025.

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By Piero Stewart and Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.