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MOL's second-quarter petrochemical operating profit shrank by 38%

August 16/2011

(ICIS) -- MOL's second-quarter petrochemical operating profit shrank by 38% year on year to forint (Ft) 1bn (USD 5.21m, EUR 3.65m) after it encountered flat margins and rising feedstock prices, the Hungarian oil, gas and petrochemical group said on Tuesday. Its petrochemical operating profit was Ft1.6bn in the second quarter of 2010.


The groups petrochemical sales volumes were up by 22% in the second quarter to 385 KT compared with the second quarter of 2010, but edged down slightly from the 392 KT recorded for the first quarter of this year, MOL added.


Its integrated petrochemical margin of EUR 348/tonne compared with EUR 343/tonne a year ago and the EUR 377/tonne seen in the previous quarter.


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