IHS Chemical Week

People & Business :: Earnings/Finance

BP's first-quarter petchem profits fall 7.5%

9:11 AM MDT | April 30, 2013 | Francinia Protti-Alvarez

BP's petrochemicals business, including lubricants, delivered an underlying replacement cost (RC) profit before interest and taxes of $404 million in the first quarter of this year compared with the $437 million recorded in the same period of 2012—a drop of 7.5%, the company announced today. Sales were not disclosed. Lubricant earnings represent about 85% of the $404 million, or $345 million, and are more than 6% ahead of the $325 million recorded during the first quarter of last year. The lubricant result reflects a robust performance supported by higher...

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