OREANDA-NEWS. May 03, 2012. During the Q1, the Company posted operational profit EBIT on the level of USD 35 million, by USD 54 million higher than in Q4 2011. At the same time, the net profit was higher by USD 64 million than in Q4 of the previous year. ORLEN Lietuva also reduced consolidated loss at EBIT level according to LIFO by USD 5 million, from USD 18 million in Q1 2011 to USD 13 million in Q1 2012, reported the press-centre of ORLEN Lietuva.

“In spite of high volatility on the market and the 10-day pre-turnaround maintenance shutdown of FCC unit, ORLEN Lietuva continuously demonstrated devotion to operational excellence as well as focus on the value creation. We also managed to take advantage of the gasoline crack rally which bolstered refining margins through the most of the Q1,” said Ireneusz Fafara, General Director of ORLEN Lietuva.

In Q1 2012, ORLEN Lietuva successfully fulfilled one of the key strategic objectives, i.e. increase in its market share on the inland markets. It was improved by 13 p.p. y/y due to sales, higher by 0.1 million tons. ORLEN Lietuva prolonged momentum of efficiency growth in the operational area. The light product yield was by 0.8 p.p. higher vs. 2011 (y/y). It was reached due to implementation of upgrades in secondary refining processes and usage of more efficient feedstock mix. The level of internal usage of fuel and losses was by 0.2 p.p. lower vs. 2011, as a result of progress in energy saving program.

During Q1 2012, the Company ran an intensive preparatory program for the 35-day turnaround to be started on 30 April 2012. The upcoming shutdown makes part of the four-year turnaround cycle. Its scope of works includes more than 50 sustaining capital and modernization projects as well as more than 1,500 job tasks for the total value of USD 65 million. Implementation of the turnaround program would enable further improvements in energy consumption and overall stability of operations.