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Shell Chemicals Reports Decrease in Earnings
8:38 AM MST | February 2, 2012 | Sotirios Frantzanas
Shell Chemicals says earnings on a current costs of supplies (CCS) basis in the fourth quarter of 2011 were $380 million, 23% lower than $493 million in the same quarter of 2010. Sales figures were not disclosed but Shell says chemical volumes also decreased 16% year over year, from 5.3 million m.t., to 4.4 million m.t. Lower plant availability and the impact of weakening global demand caused the decrease in sales, the company says. Shell Chemicals' manufacturing plant availability decreased to 86% compared with 94% in the fourth quarter 2010 because of...
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