Methanex Currently Estimates Production At Egypt Methanol Production Facility To Resume Towards End Of Q1 Of 2024; Facility Was Impacted By An Unplanned Outage In Mid-October Caused By Mechanical Failure In Synthesis Gas Compressor
Portfolio Pulse from Benzinga Newsdesk
Methanex Corporation estimates that its Egypt methanol production facility, which experienced an unplanned outage in mid-October due to a mechanical failure in the synthesis gas compressor, will resume production towards the end of Q1 of 2024. Methanex holds a 50% equity interest in the 1.26 million tonne facility, equivalent to 0.63 million tonnes per annum.
November 22, 2023 | 10:19 pm
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Methanex's Egypt facility, accounting for a significant portion of its production capacity, is expected to resume operations by the end of Q1 2024 following an unplanned outage. This may affect the company's production volumes and financial performance in the short term.
The unplanned outage at Methanex's Egypt facility directly impacts the company's production capacity and could lead to reduced methanol supply and potential financial setbacks. As the facility represents a significant portion of Methanex's production, the delay in resuming operations until Q1 2024 is likely to negatively affect the stock price in the short term due to concerns over meeting production targets and revenue generation.
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