OMV's Refining Margins not Enough to Offset Chemicals Weakness
Dow Jones10-29 17:47
0947 GMT - OMV's strong refining result wasn't enough to offset a materially weaker contribution from Borouge International, RBC Capital Markets analyst Adnan Dhanani writes. The Austrian oil-and-gas company's chemicals unit missed already-lowered expectations by 78%, he adds. "The outlook for chemicals looks to be improving alongside higher Borouge utilization rates," the analyst says. Shares trade 0.4% higher at 73.05 euros.
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