Mexico Pemex petrochemical production increases in May

03 July 2013 23:12  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Petroleos Mexicanos (Pemex) produced 1.07m tonnes of petrochemicals in May, up by about 15% from 933,000 tonnes year over year, the state-run oil company said on Wednesday.

Accumulated petrochemical output from January to May reached 4.78m tonnes, up slightly from 4.72m tonnes in the same five-month period in 2012, Pemex said.

For the month, output of vinyl chloride monomer (VCM), a raw material for the manufacture of polyvinyl chloride (PVC), increased by 12% year on year to 19,000 tonnes.

Production of ethylene dichloride (EDC), another key PVC component, increased by 15% to 31,000 tonnes, Pemex said.

The company produced 85,000 tonnes of ammonia in May, an increase of 12%, while output of ethylene oxide (EO), used for glycols and detergents, slipped a percentage point to 33,000 tonnes.

Production of ethylene fell by 8% to 95,000 tonnes, while production of propylene was flat at 34,000 tonnes, the company said.

Production of linear low density polyethylene (LLDPE) increased by 47% to 25,000 tonnes, while high density PE (HDPE) and low density PE (LDPE) output fell by 26% to 14,000 tonnes, and 30% to 16,000 tonnes, respectively.

Production of aromatics and other chemicals also increased year on year, Pemex said.

Meanwhile, domestic sales of petrochemical products in May increased slightly to Mexican pesos (Ps) 3.16bn ($243m, €187m) from Ps3.12bn a year earlier.

Accumulated sales in the first five months of the year reached Ps15.25bn compared with sales of Ps16.52bn in the same period last year.

According to Pemex, the aggregate rise in monthly output enabled the company to reduce imports of petrochemicals in May to just 1,200 tonnes, compared with 22,400 tonnes in the prior-year month. Exports stood at 78,200 tonnes compared with 61,200 tonnes last year.

The company has overturned a trade deficit in petrochemicals for the first time in 2013, posting a surplus of $11.7m for the January-May period.

($1 = €0.77; $1 = Ps13.03)

By: Simon West

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