West European Q4 olefin volumes down on the year: APPE
London (Platts)--5Feb2013/816 am EST/1316 GMT
Western European production of ethylene, propylene and butadiene in the
fourth quarter of 2012 was down from the same period of 2011, according to
the Association of Petrochemical Producers in Europe this week.
Ethylene production in the quarter was 4.497 million mt, representing a
year-on-year decline of 5.15%. Propylene production totaled 3.429 million mt,
down 4.9%. And butadiene production in the quarter was 500,000 mt, a fall of
For 2012 as a whole, volumes were: ethylene 18.874 million mt, a fall of
3.5% on the year; propylene, 14.287 million mt, down 1.33%; and butadiene,
2.054 million a fall of 1.58% from 2011.
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LYONDELLBASELL, DOW DISAPPOINT
Petrochemical majors' Q4 results reflected the lackluster European
For LyondellBasell, the Olefins and Polyolefins-Americas business saw
operating profit jump to $693 million in Q4 from $328 million from a year
earlier, while EBITDA rose to $769 million from $407 million, thanks to
strong margins arising from lower natural gas liquid prices, and higher
For the O&P business in the rest of the world, including Asia and
economically straitened Europe, however, the operating loss widened to $94
million from $73 million last time, while EBITDA grew slightly to $50 million
from $45 million.
"Olefins in North America continue to benefit from strong margins
created by low priced natural gas liquid raw materials. However, outside of
North America, the global olefins industry continues to experience low
operating rates and profitability, negatively impacting our European olefins
and commodity polyolefin businesses," the company said.
For Dow, global sales were $56.8 billion, down 5% for Q4 2012
compared to a year earlier, with the decline led by Western Europe, the
"We see Europe as continually challenged certainly throughout 2013,"
the company said.
--Nandita Lal, email@example.com
--Edited by Maurice Geller, firstname.lastname@example.org