LyondellBasell’s Texas methanol ran at 85% capacity in Q1 – CEO

29 April 2014 18:21 Source:ICIS News

HOUSTON (ICIS)--LyondellBasell's restarted methanol plant in Channelview, Texas, ran at 85% capacity in Q1 2014 and will continue to ramp up production in the second quarter, the CEO of the producer said on Tuesday.

The plant will undergo some unscheduled maintenance work on some heating tubes in Q3 2014, said Jim Gallogly during the company’s Q1 2014 earnings conference call.

LyondellBasell restarted the 780,000 tonnes/year unit near Houston in December.

The plant contributed positively to company earnings in the first quarter, LyondellBasell said. Year-over-year earnings in its intermediate chemicals segment improved by about $45m, primarily due to higher methanol volumes and margins from the methanol plant, which was not operating in year-prior period, the company said.

Down the line, the plant has the capability of being debottlenecked to further increase capacity should LyondellBasell decide to do so, Gallogly said.

By Jeremy Pafford