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ExxonMobil Chemical earnings fall 21% on lower margins

10:36 AM MDT | November 1, 2012 | Robert Westervelt

ExxonMobil Chemical reported chemical earnings of $790 million, down 21% from the year-ago quarter, due to lower margins. The company says lower margins decreased earnings by $150 million and all other items, mainly unfavorable foreign exchange effects, reduced earnings by $60 million. US chemical earnings were $565 million, up 5% from the year-ago quarter. Non-US chemical earnings fell 53%, to $225 million, ExxonMobil says. Third-quarter prime product sales of 5.95 million m.t were down 4.6%, mainly because of the sale of certain Japanese assets, the...

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