PETALING JAYA: The month-long unplanned methanol plant shutdown could negatively impact PETRONAS Chemical Group Bhd’s (PetChem) financial performance for the third quarter of its current financial year (3Q23).
TA Research, in a report on the chemical group, stated it understood that PetChem’s PC Methanol (Plant 2) in Labuan experienced a mechanical failure and had an unplanned shutdown of around one month in 3Q23.“We expect plant utilisation in the fertiliser and methanol (F&M) segment in 3Q23 to be similar as previous quarters (1Q23: 97.2%, 2Q23: 73%).
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