Welcome to our dedicated page for Methanex news (Ticker: MEOH), a resource for investors and traders seeking the latest updates and insights on Methanex stock.
Methanex Corp (MEOH) is the world's leading methanol producer, supplying this essential chemical feedstock to global energy and manufacturing markets. This news hub provides investors and industry professionals with timely updates on corporate developments, operational milestones, and strategic initiatives shaping the methanol industry.
Access official press releases covering quarterly earnings, production capacity changes, and supply chain innovations alongside analysis of market trends impacting methanol demand. Our curated collection helps stakeholders monitor regulatory developments, sustainability initiatives, and partnership announcements critical to Methanex's position in the chemicals sector.
Key updates include plant operations across North America and Asia-Pacific regions, logistics network expansions, and technological advancements in methanol production. Bookmark this page for direct access to filings, executive commentary, and operational updates from the global leader in methanol supply chain solutions.
Methanex (TSX:MX) (NASDAQ:MEOH) has temporarily idled its New Zealand operations until the end of October 2024 to assist in improving energy balances. The company has entered into short-term commercial arrangements to provide its contracted natural gas into the New Zealand electricity market. These arrangements are expected to positively impact Methanex's Q3 and Q4 2024 earnings, with after-tax proceeds expected to meaningfully exceed the margin lost on New Zealand methanol production.
The decision comes as New Zealand's energy balances are currently strained due to seasonally high demand, low hydro levels, and relatively lower gas supply in 2024. Methanex will utilize its global supply chain to ensure continued methanol supply to customers. The company remains committed to working with all parties to improve structural energy balances in New Zealand, where it has natural gas contracted through 2029.
Methanex (MEOH) reported Q2 2024 net income of $35 million ($0.52 per share) and Adjusted EBITDA of $164 million. The company's average realized price was $352 per tonne, up from $343 in Q1. Geismar 3 (G3) produced its first methanol in late July and is ramping up to full rates. Production was 1.4 million tonnes in Q2, down from 1.7 million in Q1 due to lower output in Chile and New Zealand. The company expects 2024 production to be approximately 7 million tonnes. Methanex returned $12.5 million to shareholders through dividends and ended Q2 with $426 million in cash.
Methanex (TSX:MX) (NASDAQ:MEOH), a leading global producer and supplier of methanol, has announced a quarterly dividend of US$0.185 per share. The dividend will be payable on September 30, 2024, to shareholders of record as of September 16, 2024. This announcement demonstrates the company's commitment to returning value to shareholders through consistent dividend payments.
Methanex, based in Vancouver, Canada, is publicly traded on both the Toronto Stock Exchange (MX) and NASDAQ Global Select Market (MEOH). As one of the world's largest methanol producers, the company plays a significant role in supplying major international markets with this essential chemical.
Methanex (TSX:MX, NASDAQ:MEOH) and Entropy have partnered to invest in a Pre-FEED study for carbon capture, utilization and sequestration (CCUS) at Methanex's Medicine Hat, Alberta facility. The project aims to capture 400 tonnes of CO2 daily, with an estimated investment of CAD $100 million. A portion of the captured CO2 will produce 50,000 tonnes of additional methanol annually, while the remainder will be sequestered underground.
The collaboration leverages Entropy's proprietary carbon capture technology and Methanex's manufacturing expertise. Upon final investment decision, Entropy will construct and own the capture equipment, while Methanex will supply utilities, build tie-ins, and operate the equipment. The project is expected to create 200 construction jobs and several permanent positions, showcasing Canadian leadership in the low-carbon transition.
Methanex announced the temporary idling of its 1.26 million tonne Egypt methanol production facility due to lower gas supply and increased seasonal power demand. Methanex holds a 50% equity interest in this facility, equating to 0.63 million tonnes per annum. The company is collaborating with its partner and gas supplier to restore gas supply. Methanex, based in Vancouver, is the world’s largest methanol supplier, with shares traded on the TSX under 'MX' and NASDAQ under 'MEOH'.
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