Austria's OMV sees over $220 mln impact from Libyan oilfield disruptions in Q3
Adds chemicals margins in paragraph 5, context in paragraph 6, share move in paragraph 7, analyst comment in paragraph 8
By Tristan Veyet and Isabel Demetz
Oct 8 (Reuters) -Austrian oil and gas group OMV OMVV.VI said on Tuesday it expected an impact of more than 200 million euros ($220 million) on its third-quarter clean operating result following oil production disruptions in Libya.
Libya's eastern-based government and Tripoli-based National Oil Corp (NOC) announced on Thursday the reopening of all oilfields and export terminals after a dispute over leadership of the central bank was resolved.
NOC had declared force majeure on Aug. 7 at the Sharara oilfield - one of Libya's largest production areas with a capacity of about 300,000 barrels per day - and on the Elfeel oilfield on Sept. 2.
OMV said it expected several one-offs and decreasing refining margins in its fuels and feedstock business to have a negative impact of mid-to-high double-digit million euros on the unit's clean operating result.
A clean operating result is based on the current cost of supply, and excludes one-off items and short-term gains and losses from energy inventory holdings.
It however recorded higher margins at its chemicals unit, with indicators for ethylene, propylene, polyethylene and polypropylene rising from the previous quarter's level.
OMV's chemicals division, viewed as a growth engine for the company as it seeks to move away from polluting fossil fuels, produces chemicals used in gas and water pipes, car parts and medical syringes, among other things.
OMV's stock was down 1.9% at 0710 GMT.
"3Q24 looks slightly weaker than 2Q24 period mainly due to weaker refining environment and missing Libyan production," Erste Group wrote in a note following the results.
The company added its average realised prices for energy were mixed in the July-September quarter, weakened by the average price of crude oil that fell 3.8% compared to the prior three months.
Average realised price for natural gas meanwhile rose 7.3% to 24.9 euros per MWh, it said.
($1 = 0.9105 euros)
Reporting by Tristan Veyet and Isabel Demetz in Gdansk, editing by Milla Nissi and David Evans
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