WOOD Flash – European refining and petrochemicals margins monthly: November 2021
November saw a pause in the long upward march of refining margins, as the WOOD Benchmark declined USD 1.0/bbl and margins in Central Europe fell sharply. Gasoline cracks were up again, and diesel was down a little, but fuel oil had a tough month, despite high gas prices. Petrochemicals margins trod water, with some up and some down. Company petrochemicals margins continue to remain well above average levels, and lower oil prices in December may well help that market further.Grupa Lotos is an oil concern which deals with oil extraction and processing and trading of high quality oil products. Co. supplies the market with, unleaded petrol, diesel oil, fuel oil, aviation fuel, industrial oil, asphalt and paraffin, among other things. Co. is engaged in the production and sales of engine oils and bitumen in Poland. Co. maintains oil exploration and production activities in the Baltic, North Sea and Norwegian Sea and operates three refineries in Gdansk, Jaslo and Czechowice, Poland. Co. markets its products in wholesale markets, as well as in retail markets through a network of petrol stations.
Polski Koncern Naftowy Orlen's activities are divided into three main business segments: the Refining Segment that comprises crude oil processing as well as wholesale and retail trade in refinery products. The Petrochemical Segment that encompasses production and sale of petrochemicals and chemicals. The Retail Segment that comprises of sales at petrol stations. Co.'s basic products include gasolines, diesel oils, light heating oil, Jet fuel, liquid gas, polyetylene, polypropylene, benzene, butadiene, acetone, phenol, glycols, toluen, ortoxylene.
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