Mexico Pemex posts $6.9m petchem trade deficit in Jan-Feb

25 March 2014 19:18  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Petroleos Mexicanos (Pemex) recorded a $6.9m trade deficit in petrochemical products in the first two months of the year compared with a deficit of $8.0m in the prior-year period, according to statistics released on Tuesday by the state-controlled energy producer.

The figures show that Pemex exported $17.7m of petrochemicals in January and February compared with $20.0m a year earlier, while the cost of imports during the same period was $24.6m this year versus $28.0m in 2013.

For just February, the company registered a deficit of $6.2m compared with a deficit of $5.3m in the prior-year month.

Taking into account crude oil, refined products, petrochemicals and natural gas, Pemex generated a $2.98bn trade surplus in the first two months, with exports totalling $7.70bn and imports $4.72bn.

The result compares with a surplus of $4.37bn in the same two-month period in 2013.

Meanwhile, domestic sales of petrochemical products in February reached Mexican pesos (Ps) 2.98bn ($226.6m), up by 6.1% from Ps2.81bn in the year-earlier month, Pemex said.

In volume terms, monthly domestic sales increased by 9.9% to 339,000 tonnes from 308,600 tonnes.

($1 = Ps13.15)

By: Simon West

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