The New Face of Taking a Private-Sector Pemex Approach to Business

摘要

Lack of investment has driven state petrochemical company Pemex Petroquimica (PPQ) to the brink of obsolescence. The government has traditionally used revenue from PPQ's parent Petroleos Mexicanos (Pemex; Mexico City) to finance more than 30% of the national budget, leaving little leftover for new projects. PPQ used to supply nearly all the feedstocks for local derivatives firms; that share has now dipped to less than 50%. PPQ's new president, Rafael Beverido Lomelin, has embarked on a campaign to reverse that trend. "In the past the made some mistakes, but now we are changing direction," Beverido says. "We want to be the engine to promote new growth in petrochemicals."