OQ Chemicals Corporation Declares Force Majeure for Oxo Alcohols, Aldehydes, Acids, and Esters | Financial Buzz

OQ Chemicals Corporation Declares Force Majeure for Oxo Alcohols, Aldehydes, Acids, and Esters

Due to severe weather affecting the Texas Gulf Coast area and its terminals, barging, and shipping facilities, as well as OQ Chemical’s plant operations, OQ Chemicals Corporation has been forced to temporarily shut down its Bay City, Texas plant site.

As a consequence of the plant shutdown, OQ Chemicals Corporation provides notice of force majeure and suspension of performance of its supply obligations for Oxo Alcohols, Aldehydes, Acids, and Esters.

Fred Gaytan, Vice President of OQ Chemicals Corporation, explained: “OQ Chemicals is monitoring this Force Majeure event and is working diligently to resume production as soon as possible. We understand the difficulties this may cause and apologize for the inconvenience. Our sales representatives will be keeping our customers regularly informed of our status and ability to resume production operations at the Bay City, Texas plant.”

About OQ Chemicals

OQ Chemicals (formerly Oxea) is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavours and fragrances, printing inks and plastics. OQ Chemicals employs more than 1,400 people worldwide and is part of OQ, an integrated energy company with roots in Oman. OQ emerged in 2019 upon the successful integration of nine legacy companies. Operating in 13 countries, OQ covers the entire value chain in the hydrocarbon sector from exploration and production through to marketing and distribution of its products. OQ sells its fuels and chemicals in over 60 countries worldwide. For more information about OQ Chemicals, visit chemicals.oq.com.

Contacts

OQ Chemicals GmbH, Rheinpromenade 4a, 40789 Monheim am Rhein, Germany

Thorsten Ostermann, Communications and Press Relations

Phone: +49 (0)2173 9993-3009, sc.communications@oq.com