Methanex to Idle New Zealand Plants in Q1 2027 After Gas Contract Sale

MT newswire2026/09/01 21:28

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05:28 PM EDT, 09/01/2026 (MT Newswires) -- Methanex (MEOH) said Tuesday it has agreed to sell substantially all of its New Zealand natural gas contractual entitlements, effective the first quarter of 2027 through the end of the decade. As a result, Methanex expects to indefinitely idle its New Zealand production facilities in the first quarter of 2027, the company said. The company cited continued decline in domestic natural gas availability and a lack of clear pathway to new supply, adding that it does not expect material cash costs from the decision, and any updates to production or financial guidance will be released with its regular quarterly communications.

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41