Slim Sells Over $1.15 Billion in US Oil Stocks While Keeping Positions

Carlos Slim, through Control Empresarial de Capitales, sold more than $1.15 billion in shares of US oil companies in 2026, according to OilPrice in a note published on October 29. The transaction combines about $820 million in PBF Energy and $252 million in Talos Energy, according to Bloomberg data cited by that outlet.

The move comes as the oil rally driven by the conflict in the Middle East lifted the share prices of both companies. PBF Energy operates six refineries in the United States, including Martinez in California and Chalmette in Louisiana. For the region, the transaction shows how Mexican private capital participates on both sides of the binational energy chain: the same group holds service contracts and stakes in fields with Pemex, while at the same time adjusting positions in US refining, as documented by El CEO.

The sales did not mean exiting the companies. Slim's investment firm retains about 11% of PBF Energy and close to 13% of Talos Energy, stakes that together are worth about $1.4 billion, a figure similar to January's, according to OilPrice. The PBF position had been built at the start of the pandemic; in April, Bloomberg Línea reported that the reduction of more than a third was made at prices up to 268% above those paid in 2025. The family spokesman, Arturo Elías Ayub, said at the time that it was not a change of strategy.

On the Mexican side, Grupo Carso's energy arm reported revenue of 7,435.5 million pesos at Carso Infraestructura y Construcción (CICSA) in the third quarter of 2026, 30.5% less than a year earlier. Zamajal, by contrast, contributed 6.3% of the conglomerate's sales with 2,984.3 million pesos, an annual increase of 446.7%, according to El CEO. Carso Energy maintains agreements with Pemex on gas transport and at the Lakach field.

What comes next will be PBF Energy's fourth-quarter earnings report and new Control Empresarial filings with the US Securities and Exchange Commission (SEC), which will show whether the group continues to reduce its exposure or holds it.

This note was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.