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OMV posts slight decline in petchem profit on lower ethylene margins

8:23 AM MDT | August 12, 2014 | Ian Young

Energy company OMV (Vienna) says that operating profit at the company's petrochemicals business was €40 million ($53.4 million) in the second quarter, slightly lower than in the corresponding period of 2013 mainly because of lower ethylene margins. The business's average ethylene-propylene net margin was €355/m.t. in the second quarter, down 7% year-on-year (YOY). Second-quarter petrochemical sales have not been disclosed, but petrochemical sales volumes were flat YOY, at 550,000 m.t. The contribution of Borealis to OMV's second-quarter group result...

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