Mexico’s president and the CEO of its state oil company Petróleos Mexicanos (Pemex) said Wednesday that the terms of an ethane supply contract between Pemex and petrochemicals firm Braskem Idesa (BI) have been amended.

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The changes would benefit Pemex, said President Andrés Manuel López Obrador and Pemex CEO Octavio Romero Oropeza, although BI had yet to confirm any final agreements.

BI said Monday that Mexico’s Centro Nacional de Control del Gas Natural (Cenagas), operator of the Sistrangas natural gas pipeline grid, had restored natural gas transport service for BI’s Etileno XXI polyethylene complex in Veracruz state under a 15-year term.

Cenagas had abruptly cut off the service in late 2020, forcing Etileno XXI, the largest petrochemical complex in Latin America,...