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SIBUR Reports a More Than 5% Increase in APG Processing

Source: www.gulfoilandgas.com 6/18/2013, Location: Asia

OAO SIBUR Holding, a unique integrated gas processing and petrochemicals company, today published its operational and financial results for the three months ended 31 March 2013 in accordance with International Financial Reporting Standards (IFRS).

In the first quarter of 2013, SIBUR’s gas processing plants (GPPs) processed 4.9 billion cubic metres of associated petroleum gas (APG), an increase of 5.3% year-on-year. As a result, production of natural gas rose 4.2% year-on-year to 4.2 billion cubic meters. Raw natural gas liquids (raw NGL) production increased by 12% year-on-year to 1.3 million tonnes.

In the first quarter of 2013, our natural gas sales volumes increased by 26.7% year-on-year to 3.5 billion cubic meters. External sales of natural gas liquids (NGLs), which comprise liquefied petroleum gases (LPG), naphtha and raw NGL, rose 11.7% year-on-year to 1.1 million tonnes. Sales volumes of petrochemical products totaled 529,203 tonnes, a decrease of 13.3% year-on-year, primarily attributable to the reclassification of a significant portion of external polypropylene sales to intercompany following the consolidation of BIAXPLEN, as well as lower sales of synthetic rubbers due to weak demand.

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