Home / Knowledge / News / Textiles / Petrochemical products business up at Idemitsu Kosan
Petrochemical products business up at Idemitsu Kosan
14
Aug '12
Idemitsu Kosan Co Ltd announced consolidated financial results for the first quarter of fiscal year 2012 (From April 1, 2012 to June 30, 2012).
 
The domestic demand for petroleum products for the cumulative first quarter of the fiscal year 2012 rose compared with the same period of the preceding year, primarily affected by the increased operation of thermal power stations relying mainly on heavy fuel oils as a result of the suspension of the operation of nuclear power stations.  
 
Dubai crude oil prices were hovering around $120/bbl at the beginning of the current fiscal year. However, in May, due to increased anxiety over European economies and the outflow of investment funds because of concerns over the slowdown of the US economy, Dubai crude oil prices subsequently fell below $90/bbl in late June this year. As a result, the average price for the period from April to June this year fell by $4.3/bbl against the same period of last year to $106.4/bbl. 
 
Demand for petrochemical products for the cumulative first quarter decreased, hit by expanding concerns for the slowdown in the Chinese economy due to the European debt problems and austerity measures in the European countries. The prices for naphtha, a petrochemical raw material, dropped as with crude oil prices, however, the average price increased by $31/ton against the same period of the previous year to $1,038/ton.  
 
The Idemitsu Group’s consolidated net sales for the cumulative first quarter of fiscal 2012 increased by 7.0% compared to the same period of fiscal 2011, to ¥1,056.7 billion, due to increases in the sales volumes of petroleum products. The consolidated operating income dropped by 82.2% on a year-on-year basis to ¥8.7 billion, due partly to the negative effects of revaluation of inventories owing to the decline in crude oil prices and contracted margins for petroleum products.  
 
Consolidated net sales of the petrochemical products business for the first quarter of fiscal 2012 increased by 3.5% from the same period of fiscal 2011 to ¥134.7 billion, due primarily to hikes in naphtha prices on a customs clearance basis, despite the decline in sales volumes due to sluggish demand from China. The operating income increased by 50.5% from the same period a year earlier to ¥1.7 billion, supported by the effects of activities to reduce costs and rationalize, and the improved product margins due to a greater decline in naphtha costs than for petrochemical product prices on the market.  
 
Click here to read more details:

Idemitsu Kosan


Must ReadView All

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search