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Petronas Chemicals reports fall in profits and sales

6:30 AM MDT | August 11, 2014 | Deepti Ramesh

Petronas Chemicals (Kuala Lumpur) reports a 44.7% fall in profits for the second quarter of 2014 compared with the second quarter of 2013, to 585 million ringgit ($183 million), due to lower sales volumes, lower margins in the company’s olefins and derivatives business, and lower selling prices for fertilizers and methanol, the company says. Second-quarter sales decreased 13.7%, to ringgit3.34 billion, mainly because of lower volumes and softening product prices, the company says. During the second quarter of 2014, several plants of the company underwent...

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