27 March 2011 15:41 [Source: ICIS news]
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"In Libya, it’s only a small plant,” the source said, adding that production in both Oman and Bahrain was unaffected by the wider political situation in both countries.
NOC Libya operates two 330,000 tonne/year plants at Marsa El Brega, which remain closed because of the fighting in the country.
If conflict and unrest in the region spreads, however, the situation could be very different with several worldscale plants located in both
“It is a critical area right now, but as long as we don’t hear the opposite we are optimistic,” a second source said.
The impact of earlier civil unrest in
The long awaited start-up of the unit is imminent though. A company source last week said that the 1.3m tonne/year plant in
The double impact of these conflicting forces in the market has had the result of protracting contract negotiations for the second quarter in Europe as players were reluctant to fix a long standing price while these conflicting "push and pull" factors remain unclear.
The first quarter European methanol price was settled at a pre-discounted €315/tonne ($444/tonne) FOB (free on board)
Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.
($1 = €0.71)
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