Austria's OMV sees further improvement in olefin margins

22 July 2011 10:26  [Source: ICIS news]

LONDON (ICIS)--OMV saw a further strengthening of its olefin margins in the second quarter of 2011, the Austrian oil, gas and petrochemicals group said on Friday in a trading statement.

However, while the margins improved over the previous quarter, OMV's overall petrochemical performance was “negatively influenced” by a maintenance shutdown at the company's olefins plants in Schwechat, Austria, it added, without going into further detail.

Unrest in Libya and Yemen affected OMV's oil production in the second quarter, as production fell to 275,000 barrels of oil equivalent/day (boe/day) from 304,000 boe/day in the previous quarter, the trading statement added.

OMV is scheduled to report its second-quarter results on 10 August.

By: Will Conroy
+44 20 8652 3214

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