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  1. Mexican petrochemical plant sale revised

    In a political about-face, Mexico will now seek 49% private investment in its "secondary" petrochemical plants-instead of the politically controversial outright sale of the plants to investors. At the same time, however, the plan also entails opening this sector of the petroleum industry to foreign companies to build and operate their own, 100% privately owned secondary petrochemical plants. This will mark the first time private investment has been allowed in Mexico's petroleum operations sector since March 1938. New plan Mexico is expected to create 10-15 public-private companies early in 1997 that would manage the secondary petrochemical plants, Energy Secretary Jesus Reyes Heroles said last week. The government will hold a 51% share. "The most important thing is to ensure that this sector gets what it requires-as much new investment as possible," Reyes Heroles said. Since 1992, Mexico has had 61 secondary petrochemical plants in the process of privatization, a cornerstone of the current and past administrations' economic policy. The original plan, which was to generate as much as $3 billion for the government, fell victim to nationalist sentiments and opposition by the government-aligned Institutional Revolutionary Party, among other opponents (OGJ, Sept. 9, p. 25). Secondary petrochemicals, by the government's description, are a group of intermediate petrochemicals derived from olefins and aromatics currently produced only by state-owned petroleum firm Petroleos Mexicanos (OGJ, Nov. 6, 1995, p. 15). A sizable number of private firms produce petrochemicals further downstream as well as specialty chemicals in Mexico. New competition The administration, which will propose changes to Article 27 of the Mexican constitution, would allow private companies to set up operations and compete with the government in the area of secondary petrochemicals. The Energy Secretariat, the Federal Competition Commission, and the Commerce Secretariat are to establish regulations governing these private-sector operations. Any new plants-as well as those incorporated in the public-private partnership-would still have to obtain feedstocks from Pemex. Nonetheless, the government's decision not to sell the current state-owned secondary petrochemical operations is seen as a means to placate the feverish opposition and regain points with the public. "I think it is disappointing," says Roberto Salinas-Leon, an economist and director of the Mexico City-based Center for Free Enterprise. "Political interests took over. There's no economic sense to this decision." Salinas-Leon said the administration has been "wishy-washy" on the sale of secondary petrochemicals, and this is another example of it. The economist says President Ernesto Zedillo does not want to fight over this issue before the crucial mid-term congressional elections in 1997. Copyright 1996 Oil & Gas Journal. All Rights Reserved.

    Magazine Articles

    Magazine Articles

    Mon, 21 Oct 1996

  2. BLASTS HIT PETROCHEMICAL PLANTS IN SOVIET UNION

    Arguments by F. Girfanov, a petroleum engineer from Ufa, that the U.S.S.R. should rely almost entirely on its own technology and do without imported equipment is paradoxical in view of recent Soviet industrial accident reports.

    Magazine Articles

    Magazine Articles

    Mon, 24 Sep 1990

  3. REFINERY, PETROCHEMICAL PLANT INJURIES DECLINE

    The National Petroleum Refiners Association (NPRA) reports a 7% reduction in workplace injury and illness incidence rates for refineries in 1993, and a 21 % decrease for petrochemical plants . NPRA, a trade organization composed of nearly all U.S. petroleum refiners and petrochemical manufacturers, ...

    Magazine Articles

    Magazine Articles

    Mon, 25 Jul 1994

  4. PETROCHEMICAL PLANT SALES TO KICK OFF MEXICAN PETROLEUM PRIVATIZATION

    PEMEX'S Petrochemical Complexes (77785 bytes) How Mexico'sClassification of Petrochemicals Has Changed (27541 bytes) PEMEX Petrochemical Industry, 1994 (35920 bytes) Mexico's petroleum sector privatization is getting under way in earnest. Previous halting efforts have yielded to a fresh round of ...

    Magazine Articles

    Magazine Articles

    Mon, 6 Nov 1995

  1. China plans host of domestic petrochemical plants

    Online Articles

    Online Articles

    Tue, 19 May 2009

  2. China plans host of domestic petrochemical plants

    China, concerned over forecasts of increased competition from Middle Eastern petrochemicals suppliers, reported plans to construct a host of domestic petrochemical plants .

    Magazine Articles

    Magazine Articles

    Mon, 25 May 2009

  3. Kuwait to build two petrochemical plants , spending $3.4 billion

    Kuwaiti oil minister Adel K. Al-Sabeeh said Wednesday that his country planned to build two petrochemical plants by the end of 2005 at a total cost of $3.4 billion. A foreign partner would invest in the plant, he said, but did not disclose the company.

    Online Articles

    Online Articles

    Thu, 19 Jul 2001

  4. Mexico mulling new plan to capitalize petrochemical plants

    Mexico's Energy Secretariat is concocting a new scheme to inject much-needed capital into the country's state-run petrochemical plants . Mauricio Toussaint, undersecretary for energy operations, was quoted in local newspapers last week as saying the new plan would be released publicly in coming ...

    Online Articles

    Online Articles

    Sun, 30 Apr 2000

  5. TEXAS PETROCHEMICAL PLANTS UNDER STUDY

    Enterprise Products Co., Houston, and Mitchell Energy & Development Corp., Woodlands, Tex., are engaged in two joint ventures that are studying the feasibility of building two petrochemical plants in the Texas Gulf Coast area. One of the ventures is with Himont U.S.A., Wilmington, Del., for a ...

    Magazine Articles

    Magazine Articles

    Mon, 7 Oct 1991

  6. Qatar, ExxonMobil plan petrochemical plant

    Qatar Petroleum and ExxonMobil Corp. have signed an initial deal to build a $2 billion petrochemical plant in Ras Laffan Industrial City, Qatar News Agency said.

    Online Articles

    Online Articles

    Thu, 19 May 2005

  7. Qatar opens $695 million petrochemical plant

    Qatar Vinyl Co. Ltd. Thursday officially opened a $695 million petrochemical plant at Mesaieed Industrial City south of Doha. The plant has nameplate capacity of 230,000 tonnes/year of vinyl chloride monomer, 175,000 tonnes of ethylene dichloride, and 290,000 tonnes/year of caustic soda.

    Online Articles

    Online Articles

    Thu, 21 Jun 2001

  8. Saudi firm lets contract for new petrochemical plant project

    Gulf Farabi Petrochemicals Co. Ltd. has named a Foster Wheeler Ltd. subsidiary as project manager to oversee development of a $250 million petrochemical plant in Al Jubail, Saudi Arabia.

    Online Articles

    Online Articles

    Mon, 6 May 2002

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