Russia's SIBUR 2013 revenue stable, supported by energy product sales

Russian petrochemical producer Sibur said Tuesday that revenues in 2013 remained unchanged from the previous year as a decrease in revenue from sales of synthetic rubbers and intermediates was offset by an increase in revenue from sales of energy products such as MTBE and other fuel additives.

Sibur sold 631,000 mt of MTBE and other fuels and fuel additives in 2013, up 11.8% compared with 2012, the company said.

MTBE prices averaged $1,134/mt in 2013 compared with $1,284/mt in 2012 FOB ARA, according to Platts data.

The company's revenues from sales of plastics and organic synthesis products also rose, as Sibur brought on line new production facilities, such as Tobolsk-Polymer. In plastics and organics synthesis production, Sibur produced 859,000 mt in 2013 compared with 845,000 mt in 2012, an increase of 1.7% on the year.

Additionally the company's share of natural gas production increased by 5% over the financial year to 11.5 billion cu m compared with 11 Bcm in 2012.

Production of raw NGLs rose to 3.76 million mt in 2013 compared with 3.1 million mt in 2012, a year-on-year increase of 20.6%.

In contrast, sales of intermediates and other chemicals, including monomers, decreased, falling to 3.1 million mt compared with almost 3.5 million mt in 2012, a decrease of almost 10%.