Pemex Fertilizantes, a subsidiary of oil company Petroleos Mexicanos (Pemex), is now “extinct,” due to its merger into another subsidiary, Pemex Transformacion Industrial, according to a declaration appearing on Jan. 27 in Mexico’s Official Gazette of the Federation.
The decree became valid on Jan. 1, 2021. The Pemex Board of Directors made the decision in December. The declaration said Pemex Fertilizantes was formed in 2015 due to the need to modernize the business.