Methanex Corporation reports developments tied to its global methanol production, marketing and distribution business. The company supplies methanol to customers in Asia Pacific, North America, Europe and South America, with production sites in Canada, Chile, Egypt, New Zealand, Trinidad and Tobago, and the United States.
Recurring news covers methanol production volumes, realized pricing, quarterly and annual operating results, cash dividends, balance-sheet actions, shareholder meeting results, board governance and sustainability reporting. Company updates also include low-carbon methanol market development and biomethanol fuel-supply initiatives for marine and industrial uses.
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'.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.