Plastics Reclamation Plant Liquidation
Sortation, Grinding, Washing and Starlinger Equipment For Sale
Equipment sold individually
Bids accepted first come, first served basis.
Subject to prior sale.
All offers due by Nov. 7
Click here for pictures and detailed equipment list
Contact David for additional information at 1-630-235-8171
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Williams sees 3Q net profit on olefins margins, Geismar plant still on market
HOUSTON, October 31, 2016 (PCW) – Williams on Monday reported third-quarter net income of $61 million, compared with a $40 million loss in the year-ago period. The increase was due to higher olefins margins at the Geismar plant, lower maintenance expenses and higher revenues from new natural gas expansion projects.
The 1.95 billion lbs/yr Geismar olefins plant remains on the block as Williams looks at either an outright sale of the facility or a tolling agreement. Williams executives on an earnings call Monday said it would likely be at the end of the first quarter of next year when a decision would be made as to a sale versus a tolling agreement.
Williams’ NGL & Petchem Services segment reported modified EBITDA of $104 million in 3Q, compared with $85 million for 3Q 2015. The increase i was due primarily to $33 million higher olefins margins and $8 million higher fee-based revenues. Geismar olefins margins for third-quarter 2016 reflected enhanced operational production levels and improved ethylene prices, Williams said.
Williams executives said they had a “large list of parties” involved in discussions regarding the sale or tolling agreement at Geismar. In the meantime, some Geismar ethylene production has been held back for inventory as Williams believes that some of the crackers now undergoing turnarounds and that are expected to return to service in 4Q will “remain challenged”, allowing ethylene margins to remain profitable.
LyondellBasell’s Corpus Christi cracker was expected to return to service after a turnaround and expansion in October. However, the unit is now expected to come back online in 1H November. Also down are CP Chem’s Cedar Bayou and Dow’s Plaquemine LA-3 olefins units. -- Samantha Hartke