(Recasts, adds context, background)
MEXICO CITY, May 26 (Reuters) - Mexico should recover its
investment in the Deer Park oil refinery in Texas during the
next two to three years, President Andres Manuel Lopez Obrador
said on Wednesday.
This week Mexican state oil company Petroleos Mexicanos
(Pemex) announced the purchase of the controlling stake in the
340,000-barrel-per-day refinery from its partner Royal Dutch
Shell for some $596 million.
Pemex Chief Executive Officer Octavio Romero said during a
news conference with the president that the transaction is an
important step toward Mexico's self-sufficiency in fuels, so
that it can stop importing gasoline by 2023.
Lopez Obrador, who has moved to strengthen state control
over energy since taking office in late 2018, said Mexico would
not have to take on new debt to pay for the refinery.
(Reporting by Stefanie Eschenbacher
Editing by Dave Graham)