Mohammad Javad Badri, Vice Chairman of the Board of Directors of Fanavaran Petrochemical Company referred to the increase in the price of feed and utility of Iranian petrochemical complexes and stated: “Today, Iranian methanol producers have found problems and are going to close down. Fanavaran Petrochemical can continue production due to the difference in the production method and not having financial costs,” reported the IPNA.
He added: “At this price of feed and utilities no methanol can’t be produced, and no investor is willing to invest in methanol projects.”
Experts believe the government's decisions to increase gas feed and utility costs have caused methanol producing companies to suffer losses and also affected methanol-based stock exchange markets.