Williams Olefins restates August ethylene force majeure

Williams Olefins is restating its ethylene force majeure allocation, reducing its August sales allocation from 25% to 0%, as per industry sources in Platts. The company notified customers of the change on Wednesday, stating that the Geismar, Louisiana, ethylene plant would not restart until Q2-2014. The plant has been offline since an explosion in July 2013. On July 23, the company told customers it would be able to supply 25% of the ethylene allocation and there were expectations that the plant would restart in August. One source said he was told that the restated force majeure event was due to "operational restrictions" and Williams estimated a 100% loss of production for August, which would lead to a 0% sales allocation for the month. The force majeure and the subsequent 0% allocation follows a six-to-eight week restart delay announced Wednesday in the second-quarter financial guidance update.
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