After the accident at the Schwechat refinery, which damaged the main distillation installation at the beginning of June, the oil, gas and chemical group OMV estimates the financial impact at around 200 million euros. The refinery is expected to be fully operational again in the second half of the third quarter, i.e. in the autumn.
The impact amounted to 90 million euros in June, according to the trade statement for the second quarter published Friday. Following the serious accident, the Schwechat refinery is currently only running at about one fifth of its capacity. As a result of the accident, there were kerosene bottlenecks at Vienna airport.
The refinery’s reference margin in Europe rose very strongly in the second quarter. On a Brent crude basis, the margin was $6.78 a barrel in the first quarter and is now $20.46. According to a previous calculation based on the reference price of Brent and Urals, the reference margin would have been USD 29.25 per barrel. The reference margins actually realized by OMV may still differ from the reference margin due to, among other things, a different composition of the crude oil or the product yield, according to the report.
As reported, a mechanical incident at the Schwechat refinery (Lower Austria) on June 3 resulted in two minor injuries. The main crude oil distillation plant was damaged – especially the outer skin in the lower part of the column, which the oil company said is difficult to access. Thanks to a smaller factory, production does not come to a complete standstill. In addition, the Austrian state released reserves of diesel and petrol.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
