Unipetrol Q3 profits to be hit by weakening demand for olefins

21 October 2010 10:18  [Source: ICIS news]

PRAGUE (ICIS)--Unipetrol has experienced weakening demand for olefins that will affect its operating profit for the third quarter, the Czech petrochemical group said on Thursday.

Sales volumes in the third quarter came in at 421,000 tonnes, 11% down on the second quarter and 9% down on the third quarter of 2009, it said.

While the operating result would be positive, it would be worse than the figure reported for the first quarter of this year, the company added.

Compared with the second quarter, the third quarter saw the olefin margin fall 5% on weakness in benzene spreads, and a 12% improvement in the polyolefin margin attributed to strong polypropylene (PP) spreads, Unipetrol said.

A rescheduled ethylene steam cracker shutdown at Litvinov in the Czech Republic also hit sales volumes, it added.

Unipetrol is to report its third-quarter results on 29 October.

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By: Will Conroy
+44 20 8652 3214

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