LatinNews Daily - 08 June 2026

*Mexico’s state-run oil company Petróleos Mexicanos (Pemex) will invest M$93bn (US$5.32bn) between 2026 and 2030 in the production of petrochemicals and fertilisers to reduce reliance on imports. Speaking at a press conference in Veracruz state, Pemex CEO, Juan Carlos Carpio, presented Pemex’s comprehensive plan for the revitalisation of the petrochemical and fertiliser industries, saying it aimed to increase domestic petrochemical production to 849,000 tonnes (t) per year and bring fertiliser production to 4m t per year. He said the plan comprised the rehabilitation of existing plants and development of new infrastructure, highlighting the reactivation of production at the Morelos, Cangrejera, and Cosoleacaque petrochemical centres in Veracruz and at fertiliser plants run by Austria-based ProAgro and Mexico’s Fertinal, as well as the development of the new Escolín plant in Poza Rica, Veracruz. “The petrochemical and fertiliser industries are key to Mexico’s development,” said Carpio, saying they produce materials “of great importance to various industrial supply chains”. “For decades, the petrochemical industry was neglected in our country, making us dependent on imports and squandering the opportunity to increase the value of products derived from our hydrocarbons,” said Carpio.

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