- Refinery of Schwechat running at reduced rates- South Korea's demand and imports fall during the month



Borealis, an Austria-based producer of
petrochemicals, will run Schwechat's polyolefins production at reduced rates
for the remainder of the third quarter. This follows an incident at OMV’s
integrated refinery on the site. OMV
supplies most monomers to Borealis, including ethylene, propylene, and
ethylene, for its polyethylene and polypropylene production. Borealis stated that polyolefin production rates had
"significantly decreased" after the change. According to Korea National Oil Corp. data, South Korea's
May naphtha demand and imports fell in May. This was because naphtha-fed steam
crackers were operating at lower rates due to low petrochemical margins. KNOC data revealed that May's Naphtha imports fell 5.4%
month-on-month to 17.6 Million Barrels. This was 7.2% less than the previous
year. Due to...