Orlen's second-quarter sales boosted by new PTA plant

26 July 2011 09:43  [Source: ICIS news]

LONDON (ICIS)--Poland's PKN Orlen saw its petrochemical sales volume rise by 13% year on year in the second quarter of 2011, partly as a result of the first contribution from its new purified terephthalic acid (PTA) plant, the group said on Tuesday.

The sales volume stood at 1.22m tonnes for the quarter, compared to 1.01m tonnes in the same quarter a year ago and 1.25m tonnes in the first quarter of this year, Orlen added in a trading statement.

Orlen's second-quarter model petrochemical margin was €795/tonne ($1,136/tonne), up 10% on a year ago and a 6% improvement on the previous quarter.

“Orlen's petrochemical margins continue to impress,” investment bank Wood & Company said in a note on the trading statement.

The petrochemical sales volume increase was also due to higher sales of fertilizers, Orlen noted.

“Lower sales of olefins and polyolefins on the Czech market due to shutdowns of major buyers and high product prices was partially offset by the increase of sales volumes on the Polish market,” it added.

Orlen is scheduled to publish its second-quarter financial results on 5 August.

($1 = €0.70)


By: Will Conroy
+44 20 8652 3214



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