Mexico’s Pemex petchem production up 8.5% in Jan

21 February 2008 20:00  [Source: ICIS news]

MEXICO CITY (ICIS news)--Petroleos Mexicanos (Pemex) said on Thursday it produced more than 1m tonnes of petrochemicals in January, up 8.5% from the previous month.

January’s production was the highest amount since August, Mexico’s state-run energy-to-petrochemicals giant said.

Pemex said it produced 89,000 tonnes of ethylene in January, an increase of 38,000 tonnes from December and the largest monthly total since August.

The largest single chemical category remained “others”, which accounted for 687,000 tonnes in January. This category, which includes all the chemicals produced internally by the company that are not generally for sale, rose 15,000 tonnes in January or around 19%.

The figures also showed that Pemex produced no vinyl chloride monomer (VCM) in January. The company produced 19,000 tonnes of VCM in December at its plant in Pajaritos, in the eastern state of Veracruz. VCM buyers said in August that the plant would shut down in the first quarter for maintenance.

The company also said it had produced an average of 6.53 bcf/day (14.8m m³/day) of key feedstock natural gas during January, a record. Production was 1.9% higher than December and 13.9% higher than January 2007.

Pemex’s natural gas production has been on an upward trend since 2003 and has averaged more than 6bcf since September last year.

Natural gas prices are set using a formula that follows natural gas prices that are among the highest in the world. Higher Pemex production of the feedstock was unlikely result in lower natural gas prices for petrochemical manufacturers.

By: Alex Manda
+1 713 525 2653

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