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



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