Metor pauses Venezuela methanol production

Mitsubishi-operated Metanol de Oriente (Metor) in eastern Venezuela has suspended methanol production as a health precaution.

The 750,000 t/yr Metor 1 plant will close from today through 15 August, and the 850,000 t/yr Metor 2 plant will close on 4-18 August.

Only strictly necessary workers will be allowed on site during this period, according to a company human resources notice seen by Argus.

Metor declined to comment.

Metor, located in the Jose oil and petrochemical complex, is one of the few industrial plants that continues to operate in Venezuela.

Mitsubishi and Mitsubishi Gas Chemical each hold 23.75pc stakes in Metor. Venezuela's state-owned Pequiven holds 37.5pc and International Petrochemical Holdings has 10pc. The International Finance Corporation (IFC), an arm of the World Bank, holds 1pc, and the remaining 4pc is treasury stock.

Italy's Eni has a 50pc stake in a separate methanol plant at Jose, Supermetanol, which is closed for maintenance. The other 50pc of the plant is owned by Pequiven.

By Patricia Garip