Home / Knowledge / News / Textiles / ORL Polymers generates operating profit of $8 mn
ORL Polymers generates operating profit of $8 mn
21
Aug '08
Oil Refineries Ltd (ORL) announced its financial results for three and six month periods ending June 30, 2008.

SECOND QUARTER 2008 Refining margin for the second quarter 2008 totaled USD/bbl 9.2 compared with USD/bbl 3.7 in the first quarter 2008. Refining margin for the second quarter 2008, net of both the IFRS recording method for derivative transactions and inventory gains, totaled USD/bbl 6.7, compared to USD/bbl 2.4 in the first quarter 2008.

The Mediterranean Ural Cracking Margin average quoted by Reuters for the second quarter 2008 totaled USD/bbl 6.3. Consolidated EBITDA for the second quarter 2008 totaled $114 million, compared to $35 million in the first quarter 2008.

Consolidated Operating Profit for the second quarter 2008 totaled $95 million, compared to $16 million in the first quarter 2008. Operating profit from the Refining and Trade Segment totaled $78 million in the second quarter 2008, compared to $7 million in the first quarter 2008. Operating profit from the Petrochemicals Segment totaled $18 million in the second quarter 2008, compared to $10 million in the first quarter 2008.

The Petrochemicals Segment includes the results of the Polymers Section (through 50%-held Carmel Olefins Ltd.) and the Aromatics Section (through wholly owned Gadiv Petrochemical Industries Ltd.). The Polymers Section generated an operating profit of $8 million in the second quarter 2008, compared to break even in the first quarter 2008. Operating profit of the Aromatics Section in the second quarter 2008 totaled $10 million, similar as the $10 million generated in the first quarter 2008.

Consolidated net income for the second quarter totaled $71 million, compared to $2 million in the first quarter 2008. FIRST SIX MONTHS 2008 Refining margin for the first six months 2008 totaled USD/bbl 6.5. Refining margin for the first six months, net of both the IFRS recording method for derivative transactions and inventory gains, totaled USD/bbl 4.6, compared to USD/bbl 8.4 in the first six months last year. The Mediterranean Ural Cracking Margin average, quoted by Reuters, for the first six months 2008 totaled USD/bbl 5.0. Consolidated EBITDA for the first six months 2008 totaled $149 million, compared to $223 million in the same period last year.

Consolidated Operating Profit for the first six months 2008 totaled $111 million, compared to $161 million in the first six months 2007. Operating profit from the Refining and Trade Segment totaled $85 million in the first six months 2008, compared to $135 million last year. Operating profit from the Petrochemicals Segment totaled $28 million in the first six months 2008, compared to $30 million in the comparable period last year. The Petrochemicals Segment includes the results of the Polymers Section and the Aromatics Section. The Polymers Section generated an operating profit of $8 million in the first six months 2008, compared to $14 million in the same period last year.


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

December 2017

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
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

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
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

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
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

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
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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