Poland’s PKN Orlen Q4 petrochemical margins rise by €120/tonne

18 January 2013 09:41  [Source: ICIS news]

LONDON (ICIS)--PKN Orlen's model petrochemical margin rose by €120/tonne year on year to €729/tonne in the fourth quarter of 2012, the Polish group said in a trading statement on Friday.

The model margin was also a €104/tonne improvement on the figure recorded for the third quarter of last year, Orlen added.

In the statement, Orlen also stated that overall fourth-quarter petrochemical sales volumes increased by 7% year on year to 1.33m tonnes.

The company saw better polyolefin and olefin sales volumes in the fourth quarter, compared to the final quarter of 2011, mainly due to few production limitations, the statement added.

It did not give a breakdown of the figures.

The company recorded higher fertilizer sales volume; better polyvinyl chloride (PVC) sales volume on an improved export performance, and stable purified terephthalic acid (PTA) sales volume year on year, the statement said but did not provide figures.

The fourth-quarter financial results of Orlen, to be released on 23 January, will include asset write downs of zloty (Zl) 700m ($226m) , mainly in the refining segment of Czech subsidiary Unipetrol, and a Zl500m loss on revaluations of held oil stocks, Orlen said.

($1 = Zl3.09)

By: Will Conroy
+44 20 8652 3214

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