19 October 2012 10:56 [Source: ICIS news]
LONDON (ICIS)--OMV saw a sharp downturn in olefin margins during the third quarter of 2012 but its petrochemical business is still expected to record a quarterly profit, the Austrian group said in a trading update on Friday.
No figures for the margins or for the likely petrochemical profit to be announced in OMV's third-quarter financial results, to be released on 7 November, was given.
The part-owned subsidiary was “positively influenced by favourable inventory effects and supported by a strong positive contribution from Borouge, Borealis’ joint venture with the Abu Dhabi National Oil Company,” it said.
In August, Borealis said its second-quarter net income fell 33% year on year to €112m ($145m).
($1 = €0.77)
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