Petrobras’ plan to invest US$11 bln in Mexico till 2015

02-Aug-11

Petroleo Brasileiro (Petrobras) plans to invest US$11 bln in oil exploration, production and refining projects in Mexico uptil 2015. Most of the investment will go into petrochemical plants and refineries in Mexico's Gulf states. Petrobras plans to invest in Mexico's Etileno XXI project in Coatzacoalcos comprising ethanol processing plant for with capacity to produce 1 mln tons of ethylene and its derivatives. Output from the project will meet a large chunk of demand that is currently satisfied by imports from the US.