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Recently, some major petrochemical producers in Europe and the United States stated that the profit margin of petrochemical products reached a record level in the second quarter driven by the polyolefin market
Record profit rate of European chemical companies
Record profit rate of European chemical companies Record profit rate of European chemical companiesThe financial reports of some European petrochemical companies in the first and second quarters of 2021 show that petrochemical profit margins have reached a record level
Austrian OMV holds 75% of Borealis
Versalis of Italy also pointed out that due to demand recovery, shortage of some products and market chaos, its polyethylene business profitability has increased significantly
The U.
The United States still maintains its advantage in cracking feedstock
In the United States, because its chemical production raw material is ethane, it is less affected by the current high oil and gas prices, and its profits have risen even more impressively
ExxonMobil said that due to strong demand for plastic packaging, tight industry supply and shipping restrictions, its chemicals and plastics business’s net profit in the second quarter increased nearly five times year-on-year to a record US$2.
LyondellBasell CEO Bob Patel said that continued order backlogs, low inventories and suppressed consumer demand will continue to support polyethylene's high profit margins
High profitability lasts at least until the end of the year
High profitability lasts at least until the end of the year High profitability lasts at least until the end of the yearRegarding when the current high profitability will continue, European and American chemical manufacturers said that it is basically certain that this state will continue until the end of the year
Borealis CEO Thomas Ganger said that the European polyolefin profit margins rose to historical highs this quarter, and although they will not last forever, it is expected that strong demand in various market segments will continue and the company's profit margins are expected to remain Higher level
Jack Williams, senior vice president of ExxonMobil's downstream and chemicals division, said that the tight supply situation eased in the third quarter
Howard Englade, president and chief financial officer of Dow, said that Dow expects continued strong demand for its polyethylene, polyurethane, acrylic and silicone resin chains to continue
