Harvey impacts INEOS performance
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
INEOS Group Holdings S.A. has reported a fall in EBITDA for 3Q17 to €577 million, compared to €647 million for 3Q16 and €638 million for 2Q17.
The Group reports that Hurricane Harvey had a significant impact on its performance for the quarter. A number of its facilities in Texas, US, were temporarily closed due to the hurricane, resulting in some lost production volumes, particularly in the O&P North America segment.
The estimated reduction in EBITDA for 3Q17 due to the hurricane was €50m. All of the plants are now back to full operations, except one train at the Nitriles plant in Green Lake, Texas and an HDPE unit at Cedar Bayou, Texas.
O&P North America reported EBITDA of €216 million compared to €280 million in 3Q16, and O&P Europe reported EBITDA of €196 million compared to €193 million in the corresponding period of last year. Meanwhile, Chemical Intermediates reported EBITDA of €165 million compared to €174 million in 3Q16.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/20102017/harvey-impacts-ineos-performance/
You might also like
The Hydrocarbon Engineering Podcast - Midstream matters
In this episode of the Hydrocarbon Engineering Podcast, Sarah Miller, President and CEO of the GPA Midstream Association, joins us to consider the vital importance of midstream operations, and some of the key challenges and opportunities facing the sector.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
