Oman methanol outage pushes up Europe February price ideas

28 January 2011 15:11  [Source: ICIS news]

LONDON (ICIS)--The unplanned closure of Oman-based Salalah Methanol's 1.3m tonne/year methanol plant in Salalah, Oman, on Thursday has pushed Europe February price ideas up by €6–7/tonne ($8–10/tonne), market sources said on Friday.

Bids and offers for February material were at €249–253/tonne FOB (free on board) Rotterdam, on Wednesday, but climbed to €255–260/tonne FOB Rotterdam by Friday afternoon, following the plant’s closure on Thursday morning.

The cause of the problem was not yet known and there was no indication of how long the plant would be off line.

“[Salalah Methanol] shut it down in a controlled way…. Now it’s cooling down and as soon as possible, or maybe even now, they will investigate the problem,” said a source at the plant’s European marketer, the European trading firm Vitol.


For more on methanol visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Ross Yeo
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index