PKN Orlen’s Q3 petrochemical sales volume declines on shutdowns

19 October 2012 08:35  [Source: ICIS news]

LONDON (ICIS)--PKN Orlen's petrochemical sales volumes edged down 1% year on year in the third quarter to 1.34m tonnes as maintenance shutdowns took a toll, the Polish group said on Friday in a trading statement.

The quarter was affected by shutdowns of the group's Olefin II and purified terephthalic acid (PTA)  installations, it added.

The three-month period also saw polyvinyl chloride (PVC) sales volumes decline 19% year on year on falling demand, Orlen added.

Fertilizer sales volumes, however, climbed 15%, it said.

No tonnages were given for either PVC or fertilizer sales volumes in the statement.

Orlen's model petrochemical margin in the third quarter was €625/tonne ($812/tonne), a 6% decrease year on year and a 19% fall quarter on quarter, the company said.

In the first nine months of this year, PKN Orlen sold 3.90m tonnes of petrochemical products, a 2% improvement on the same period of 2011, the company said in its trading statement.

Orlen, also a refiner, expects its third-quarter operating profit to nearly double year on year to zlotych (Zl) 1.4bn ($446m), thanks to high refining margins, it added.

The group is scheduled to publish its third-quarter financial results on 25 October.

($1 = €0.77 / $1 = Zl3.14)

By: Will Conroy
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index