Falling methanol and oil prices create challenges for Genesis Energy

Wed, 24 Feb 2016

By Pattrick Smellie Feb. 24 (BusinessDesk) - Genesis Energy faces declining earnings beyond the current financial year from its 31 percent share in the Kupe oil and gas field unless there's a turnaround in global oil and methanol prices or a lift from higher earnings or acquisitions elsewhere in the business. A media briefing on the electricity and gas producer and retailer heard that the price Genesis is getting from the Methanex methanol plants in Taranaki - the country's largest single user of natural gas - is currently near the 'floor...

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