Poland's Orlen to book $501 million impairment in second quarter
Poland's Orlen to book $501 million impairment in second quarter July 22 (Reuters) - Polish energy group Orlen PKN.WA expects to book non-cash impairment charges of 1.9 billion zlotys ($501 million) in its second-quarter financial results, mainly tied to its New Chemistry petrochemicals project started in 2021, it said on Tuesday.
Quarterly refinery throughput and fuel wholesale volumes declined from a year ago, with crude oil throughput falling 7% to 9.165 million metric tons and refining capacity utilisation dropping to 86% from 93%, Orlen said in a preliminary operating update.
Wholesale fuel sales fell 9% year-on-year to 7.331 million tons in the quarter
Upstream crude oil, condensate and NGL production rose 5% to 4.590 million barrels of oil equivalent
Retail fuel sales up 2% from last year to 2.935 million tons
Electricity wholesale volumes rose 28% year-on-year to 3.2 TWh
Full Q2 results due August 6; the provided figures are estimates and may be revised
($1 = 3.7926 zlotys)
(Reporting by Rafal Nowak in Gdansk, editing by Milla Nissi-Prussak)
((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))
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