Carlos Slim Offloads $1.15 Billion in U.S. Oil Assets

Slim, currently the wealthiest individual in Mexico, offloaded roughly $820 million in PBF Energy shares across 100 trading days. The refiner, which operates six facilities across the United States, saw its net income surge to $1.53 billion this year, a sharp climb from $170 million in the previous period. The company’s gross refining margin jumped to $34.56 per barrel, reflecting a global fuel market that favors producers over consumers.

Investment records show that Slim accelerated his exit from Talos Energy in October, selling $252 million in stock as regional instability pushed valuations to a three-year high. These transactions, executed through his family-held firm Control Empresarial de Capitales, reduced his stakes in PBF and Talos to 11% and 13% respectively. Despite these divestments, his remaining energy portfolio remains valued at approximately $1.4 billion.

While pulling back from U.S. equities, Slim is intensifying his domestic operations. His conglomerate, Grupo Carso, is actively drilling at the Ixachi field in Veracruz under a $1.99 billion contract with Pemex. His oil subsidiary, Zamajal, reported a 447% year-over-year revenue increase, bolstered by the Ixachi project. Notably, Slim maintains a 17.8% interest in the offshore Zama field, ensuring his footprint in the Mexican energy sector remains deep even as he trims his American stock exposure.