PKN reports that MN has restarted its old visbreaking unit to improve product slate. The restart will allow Mazeikiu to increase production of light and medium products including gasoline and diesel, Orlen said, without say how much output would rise.
Our view: We do not think that the restarted visbreaking unit will have a significant impact on margins. Although it increases gasoline and diesel production somewhat, the old technology visbreaking unit is unlikely to improve product slate substantially. We look forward to hear more on the restart of the vacuum distillation unit, still under maintenance.