Mexico's Pemex petrochem output, sales fall in Q3

30 October 2009 20:47  [Source: ICIS news]

MEXICO CITY (ICIS news)--Mexican major Petroleos Mexicanos (Pemex) reported on Friday a 3.1% drop in third-quarter petrochemical output and double-digit declines in both domestic sales and exports in petrochemicals.

Output was 1.07bn tonnes for the third quarter, Pemex said.

Third-quarter domestic sales were Mexican pesos (Ps)4.99bn ($383.3m, €256.8m), down 39.7% year over year, the company said. Exports were Ps800m, down 24.4%.

Pemex attributed the lower output to decreased methane and ethane derivative production, although aromatics showed an increase.

On the whole, Pemex reported a 20.7% drop in total sales to Ps293.4bn.

The company reported a net loss of Ps3.7bn, compared with a loss of Ps14.4bn for the same time last year. Lower taxes and duties helped lower the magnitude of this year's third-quarter loss.

($1 = Ps13.02)
($1 = €0.67)

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By: James Young
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