SK Energy eyes Ulsan No 1 cracker restart in end-November

22 October 2010 10:01  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s SK Energy is looking at restarting its 190,000 tonne/year No 1 cracker, which has been idle for nearly two years, around end-November, a company source, who declined to be named, said on Friday.

In a statement accompanying its financial results, SK Energy said that it was planning to reactivate the cracker but did not state a specific timeframe for the restart.

The cracker was taken off line in October 2008 due to poor economics.

"We are preparing the operation of the cracker," said company spokesperson Taehoon Chung, but added that the actual restart of the cracker would depend on improvement of market conditions. 

SK Energy said it expects its petrochemical business to perform better in the fourth quarter as product prices had shown an upward trend since August.

SK Energy also runs a 690,000 tonne/year No 2 cracker in Ulsan.

With additional reporting by Liu Xin, Felicia Loo and Peh Soo Hwee

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By: Pearl Bantillo
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