The closure of ExxonMobil’s refinery in Victoria has had a knock-on effect on plastics manufacturer Qenos, which has lost $420 million for the past two years in its filed accounts.
On the upside, the cost of raw materials, including gas and ethane, decreased slightly to $377,100 in 2021 compared to $382,277 in 2020, when it posted a $92 million loss.And Qenos’ revenue was up 12 per cent to $716,941 in the year to December 31, 2021 compared to $638,528 a year prior. Woodside will supply 4.5 petajoules of gas in 2023 for Qenos’ polyethylene manufacturing facilities at Altona in Victoria and Botany Bay in NSW.– the equivalent of the energy used by 19,000 homes in a year – was not disclosed, but Woodside said in a statement the gas was “competitively priced”.