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Higher Olefin Margins Boost OMV's Petchems Ebit

5:02 AM MST | February 22, 2012 | Sotirios Frantzanas

Oil and gas company OMV (Vienna) says Ebit at its petrochemical business increased 68% in the fourth quarter of 2011, to €12 million ($15.9 million) compared with €7 million in the previous-year period. Petrochemical sales figures were not disclosed but sales volumes decreased 6% year over year, to 500,000 m.t., OMV says. The increased Ebit of fourth-quarter 2011 was a result of higher olefin margins that outweighed the impact of lower sales volumes, the company says.   Petrochemical-business Ebit, however, shrunk in fourth-quarter...

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