Asian Chemical Connections
The proposed energy reforms by Mexico's president could reduce the country's petrochemical trade deficit, one that has continued to grow despite the nation's rich hydrocarbon reserves.
However, there is the possibility that reforms could become weakened by the time they are adopted, limiting any benefit to the country's petrochemical sector.
Mexico's petrochemical trade group, the Asociacion Nacional de la Industria Quimica (ANIQ), noted that the nation would report a petrochemical trade deficit of $17.1bn (€12.8bn) in 2010, up 43% year on year in the latest year statistics were available.
INSIGHT: Crude price falls push petchems lower, raise price volatility
“Everyone is on the sidelines because they don’t know where the bottom is and don’t know what to do.”
VIDEO: ICIS special report - impact of lower crude oil prices