Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) has signed an agreement with Saudi Aramco Total Refining and Petrochemical Company (SATORP), a subsidiary of Saudi Arabian Oil Company (Aramco), to supply 100,000 tonnes of methanol annually for 20 years.
The commercial operation and supply are planned to start by the end of 2027, according to a bourse filing.
Chemanol logged 49.91% lower net losses at SAR 24.46 million in the first quarter (Q1) of 2024, versus SAR 48.84 million in Q1-23.
