Libya's NOC shuts methanol plant due to unrest - Chempetrol

22 February 2011 12:00  [Source: ICIS news]

LONDON (ICIS)--State-owned oil company National Oil Corp (NOC) of Libya has stopped methanol production at its plant at Marsa El Brega due to safety fears amid political unrest in the north African country, according to a source with Chempetrol.

The source said production was believed to have been stopped on 21 February and that methanol was being put into storage for security.

Chempetrol, which trades and markets petrochemical products, purchases methanol produced at NOC's Marsa El Brega plant. NOC could not be reached for comment.

The plant would probably not restart until the unrest is over, the Chempetrol source said.

The source added that the plant, which has an annual output of about 680,000 tonnes/year, was recently running at 70-80% of capacity.

The source said that it was unclear at this point what impact the closure would have on methanol supply, as it depended on how long the unrest continues.

Chemicals operations in Libya have been disrupted and the price of oil has risen as anti-government unrest in the country intensifies.

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By: Sarah Trinder
+44 20 8652 3214

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