Pemex expects 25% pa hike in petrochemical output with possible approval of sweeping energy overhaul

28-Oct-13

Mexico's state oil and gas monopoly Pemex expects petrochemical output to rise 25% to 10 million tons pa with the possible approval of a sweeping energy overhaul, as per Reuters. In August, President Enrique Pena Nieto proposed a broad energy reform that aims to reverse a nearly decade-long slide in crude oil output by luring major investments with new constitutional and contractual arrangements. The reform would allow more private sector participation in petrochemical sector and other downstream activities, where analysts see significant potential for growth.