Canada's Nexen to start up sodium chlorate unit end-Oct

14 October 2004 19:01  [Source: ICIS news]

TORONTO (CNI)--Canada’s Nexen said Thursday it will start up a 65 000 tonne/year expansion at its Brandon, Manitoba sodium chlorate complex by the end of this month.

 

Nexen chief executive officer Charlie Fisher told analysts here today that the expansion is mechanically complete and “commissioning and start-up activities are planned to be finished by the end of October.”

 

With the expansion Nexen’s Brandon facility will have a capacity of over 260 000 tonne/year, “the largest and one of the most cost-efficient sodium chlorate sites in the world,” Fisher said.

 

Fisher was briefing analysts on the company’s third quarter results, released earlier today.

 

Nexen reported operating income of Can$11m ($8.7m/Euro7m) in its chemicals segment for the three months ended 30 September, compared to Can$12m in the same period last year. Chemicals sales reached Can$98m, up from Can$94m. Officials did not provide further comment on the chemicals results.

 

Nexen, primarily an energy company, posted overall third quarter net income of Can$220m, up 21.5%. Sales reached Can$837m, up 17% from the 2003 third quarter.

 

Calgary, Alberta-based Nexen credited high oil prices and better margins for the improvement. But it noted that production was lower quarter-over-quarter, partially due to shut-ins during Hurricane Ivan on the US Gulf Coast and maturing oil fields in Yemen.

By: Stefan Baumgarten
+1 713 525 2653

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