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Regions :: North America
Chemical Profits at Shell and ConocoPhillips Rise; ExxonMobil Chemical's Profit Dips
9:27 AM MDT | July 28, 2011 | Lindsey Bewley
Shell Chemicals announced second-quarter earnings up 19%, to $530 million, reflecting higher margins and higher income from equity accounted investments. Sales were not disclosed, but the company says chemicals sales volumes decreased by 13% compared with the same quarter last year, to 4.5 million m.t. Chemicals manufacturing plant availability decreased to 87% compared with 92% in the second quarter 2010, as a result of increased maintenance activities. Meanwhile, ConocoPhillips’ chemicals business, which includes its joint venture Chevron Phillips...
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