Petrochemicals giant INEOS has been hit with a €50million hangover from Hurricane Harvey affecting US operations.
The company said in its third quarter trading statement that the tropical storm had a “significant impact”.
Amongst the hardest hit areas was the group’s olefins and polyolefins (O&P) North America segment where production was lost.
All of the plants are now back to full operations with the exception of one train at the Nitriles plant in Green Lake, Texas and an High-density polyethylene (HDPE) unit at Cedar Bayou, Texas.
Overall INEOS reported that earnings before interest, tax, depreciation and amortization for the third quarter of 2017 was €577 million, compared to €647 million for Q3, 2016.
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- OPINION: North Sea firms need to evolve to attract new talent
- OPINION: Still time for hazardous industry operators to get ahead in digitisation
- Procurement and audit…the missing link? asks AAB
- Aberdeen still energy powerhouse as renewables combine with oil and gas to buoy hopes for the future
- Opinion: Mariner strike – Eat humble pie if needs be