Pemex petchem imports jump 88% year on year through February

05 April 2012 22:56  [Source: ICIS news]

CORPUS CHRISTI, Texas (ICIS)--Petroleos Mexicanos (Pemex) imported 88% more petrochemicals in the first two months of 2012 than in the same period last year, the state-owned oil company said on Thursday.

In January and February of this year, Pemex imported over 40,000 tonnes of petrochemicals, up from 21,300 tonnes during the first two months of 2011, its monthly production report said.

In the past few years Mexico has struggled with rising fuel and petrochemical imports and is studying a proposal to build a new refinery in Tula, in the state of Hidalgo, to add 300,000 barrels/day of refining capacity.

The new refinery would help reduce Mexico’s rising US gasoline imports and produce roughly 142,000 barrels/day of gasoline, 82,000 barrels/day diesel and 12,000 barrels/day of jet fuel, all of which will have ultra-low sulphur content, Pemex said in 2009 when it proposed the project.

Pemex wants to increase domestic refining capacity with the Tula plant and expansions at other existing installations.

The monthly production report said the high-priced petrochemical imports, used as feedstocks for other chemicals, directly affects those downstream users.

Eduardo Martinez, president of Mexico's National Association of Plastic Industry (ANIPAC), has said that it is easier to produce low-cost crude and sell into high-priced international markets.

By: Leela Landress
+1 713 525 2653

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