Plan foresees increasing annual aromatics production to 330,000 mt by 2030. Investment to focus on reactivating output at two petrochemical complexes
Alejandro Chavez and Daniela Morales Pumarino, Platss S&P Global
MEXICO CITY
EnergiesNet.com 02 14 2025
Pemex will invest 20,000 million Mexican pesos (around $975 million) to increase its petrochemical output over the next six years, senior officials said Feb. 12 while revealing the state-owned company’s 2025-2030 Work Plan.
Mexico’s state-owned oil company is targeting an annual production of 330,000 mt of aromatics, of 250,000 mt of ethane oxide and of 690,000 mt of polyethylene by 2030. For this purpose, Pemex plans to reactivate and increase the production at the Cangrejera and Morelos complexes.
Platts, part of S&P Global Commodity Insights, assessed linear low-density polyethylene delivered Mexico City at $1,060/mt on Feb. 12, while blowmolding-grade high-density polyethylene was assessed at $1,070/mt, also delivered Mexico City. Both were stable on week.
The investment plan also considers modernizing the Escolín complex to increase urea production to 750,000 mt in the same period.
Outside of the petrochemical industry, Pemex’s Work Plan also outlines an increase in liquid hydrocarbon and natural gas production, the maximization of the Olmeca and Deer Park oil refineries, and reducing reliance on fertilizer imports.
The financing for all these projects will come mainly from Pemex’s own investment budget, complemented by resources from other companies through mixed public-private projects. Sources in the market said that achieving these milestones would require an enormous investment.
Most of these objectives were outlined by the current administration during the presentation of the National Strategy for the Hydrocarbon and Natural Energy Sector, in November 2024, and in the announcement of the Plan México investment portfolio, on Jan. 13.
spglobal.com 02 12 2025
