Petrochemicals – Green-ethylene-technology 02-05-2022 - Arhive
Petrochemicals – Green-ethylene-technology
Petrochemicals – Naphtha-overseas-market
Crude Oil Prices Trend
-Increases in oil and utilities prices penalize Versalis
The chemical company of the ENI group recorded a net operating loss of 115 million euros in the first quarter of the year.
Versalis, the chemical company of the ENI group, closed the first quarter with a negative EBIT of 115 million euros, 154 million less than the profit of 24 million achieved in the same period last year (- 47 million compared to the fourth quarter of 2021), penalized – in the cracking phase – by the increase in the costs of oil raw materials and utilities, indexed to the price of natural gas.
On the other hand, margins have improved both for polyethylene, driven by the increase in the prices of polymers, thanks to the recovery in demand and lower imports, and for elastomers, by virtue of the greater demand in the tire segment.
Sales of chemical products amounted in the first three months of the year to 1.13 million tons, compared to 1.18 million tons in the first quarter 2021 (-4%) due to the lower availability of raw materials (primarily the naphtha) and stops for scheduled maintenance and optimizations. The plant utilization rate thus fell from 72 to 70 percent. Petrochemicals – Green-ethylene-technology
During the quarter, Versalis announced the signing of an agreement with China’s Shandong Eco Chemical for the licensing of proprietary technology for the production of low-emission continuous bulk styrene polymers and the strengthening of the partnership with Novamont in green chemistry through the Matrìca joint venture; a new shareholder agreement was reached, on the basis of which Versalis will increase its stake in Novamont from 25% to 35%.
-Petrochemicals – Naphtha-overseas-market
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Petrochemicals – Green-ethylene-technology