Pemex's Deer Park refinery in Texas reported an $80 million loss in 2025, marking its second consecutive year in the red since Pemex took full control in 2022.
The Deer Park refinery, owned by Petróleos Mexicanos (Pemex) and located in Texas, has faced significant financial challenges, leading to a reported loss of $80 million in 2025. This marks the second consecutive year of losses since Pemex acquired complete control of the refinery in 2022, purchasing it from Shell, which held a 50.005% stake. While the refinery saw substantial profits of $954 million in the year of transition (2022) and $581 million in 2023, a downturn began in 2024 with a loss of $118 million and has continued into 2025.
