Unipetrol's Litvinov ethylene unit restart delayed by several weeks |
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Published
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Mon, 29 Oct 2007 10:11
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WARSAW (Thomson Financial) - Czech refiner Unipetrol will delay restarting the ethylene unit at its Litvinov refinery by several weeks because of a fault with the heating exchange apparatus, Unipetrol said in a statement.Unipetrol, which is majority owned by Poland's PKN Orlen, had halted production as part of a scheduled maintenance outage which also included adding new capacity. It had planned to restart the ethylene unit on Oct. 25.Unipetrol said it is preparing a stop-gap measure to put the ethylene unit back into operation by Nov 8, adding that more details on the extent of the delay in repairing the unit for normal production would be available next month.It gave no details on the financial impact of the delay.Brokerage Atlantik FT calculated the delay would cost the company roughly 70 mln crowns, or just under 3 mln eur, as the ethylene unit at its Litvinov plant accounts for 12 pct of Unipetrol's petrochemical production revenues.'It's unpleasant but it doesn't change our view of the stock,' said Bram Buring, an analyst at brokerage Wood & Co.jana.mlcochova@thomson.com +420 222 191 108jm1/sljCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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