PEMEX will invest MX$1.708 billion (US$103.161 million) to rehabilitate two abandoned sulfur plants, Nuevo PEMEX and Ciudad PEMEX. The investment aims to enhance the company’s petrochemical capabilities. Each plant will receive MX$854 million, allocated equally for 2024 and 2025.
PEMEX emphasized that transforming natural gas and petroleum derivatives into raw materials is crucial for various production chains, including the textile, automotive, food, and fertilizer industries. By enhancing these facilities, PEMEX aims to eliminate gas flaring completely, while increasing processing capacity to meet the rising demand for petrochemical production.
The rehabilitation will focus on specialized centers for treating natural gas and removing contaminants through component separation. This will ensure efficient operation of the sulfur recovery plants.
In 1Q24, petrochemical production reached 335,000t, marking a 10.5% increase compared to 303,000t in the previous quarter. PEMEX operates in the petrochemical complexes of Cangrejera, Pajaritos, Cosoleacaque, and Morelos, which house 20 plants processing products like ethylene, methanol, ammonia, and benzene.
The stable and continuous operation of the ammonia VI plant in the Cosoleacaque complex contributed to a 6.2% increase in petrochemical production in 1Q24 compared to the same period last year. There was an 18.4% rise in methane derivatives and a 12.6% increase in other petrochemicals.
Methanol production saw an increase of 36.7% due to the extended operation of methanol plant No. 2. This contrasts with the previous quarter when the plant was inactive due to high inventory levels and operational challenges.
