Mexico Pemex posts $39m petchem trade surplus in first 10 months

25 November 2013 22:14  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Petroleos Mexicanos (Pemex) posted a $39.0m (€28.9m) trade surplus in petrochemical products in the first 10 months of 2013 compared with a surplus of $13.2m in the prior-year period, the state-run energy company announced on Monday.

Exports of petrochemicals in the January-October period totalled $146.8m, while the cost of imports was $107.8m, according to statistics on the company’s website.

In October, the company registered a petrochemicals trade surplus of $1.5m compared with a deficit of $6.8m in the same month last year.

For the first nine months, Pemex posted a $17.8bn cash flow trade surplus in crude oil, natural gas, petroleum products and petrochemicals, with exports reaching $40.7bn and imports $22.9bn.

Meanwhile, domestic sales of petrochemical products in October fell by about 8.4% to Mexican pesos (Ps) 2.40bn ($184m, €136m) from Ps2.62bn in the prior-year month.

In volume terms, domestic sales totalled 291,400 tonnes, down by about 2.4% from 298,700 tonnes.

Accumulated domestic sales in the January-October period were down by about 6.4% to Ps28.82bn from sales of Ps30.80bn in the same period last year, while volumes fell by 6.0% to 3.29m tonnes from 3.50m tonnes.

($1 = €0.74, $1 = Ps13.02)

By: Simon West

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