Mexican petrochemical producer Braskem Idesa nearly doubled polyethylene production during the third quarter at its complex in Veracruz state, with 166,000 mt of polyethylene resin made at the facility, Braskem said Thursday.
The total produced volume was 97.6% higher than the previous quarter, when the plants produced around 84,000 mt.
The project continues to be in the ramp-up phase and the polyethylene plants operated at a 63% utilization rate in the quarter, up from 32% in Q2, the company said during Q3 earnings call.
Once the complex is running at capacity, it will be able to produce 1 million mt/year of polyethylene. But Braskem Idesa has not been able to run at higher rates as it has struggled to secure delivery of enough ethane from its long-term supplier, Pemex Transformacion Industrial (formerly Pemex Gas), multiple market sources have said.
Braskem Idesa is a joint venture between Brazil's Braskem (75%) and Mexico's Grupo Idesa (25%) and included the first in a new wave of gas-fed crackers in North America.
Braskem Idesa reported total polyethylene sales of 153,000 mt in Q3, with domestic sales at 60,000 mt -- 39% of total sales -- and exports beyond Mexico at 93,000 mt, 61% of total sales. Q2 sales were at 54,000 mt, the company said, with 33,000 mt sold in Mexico and 20,000 mt of resin exported.
