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BP's petchems operation swings to profit; group will divest more assets

7:50 AM MDT | October 29, 2013 | Natasha Alperowicz

BP today announced its financial results for the third quarter as well as a new divestment program. The company’s petrochemicals business reported an underlying replacement cost (RC) profit before interest and tax of $51 million compared with a $20-million loss in the third quarter of 2012. The segment reported an RC profit before interest and tax of $48 million compared with a loss of $21 million in the year-earlier period.    Production of petrochemicals in the third quarter was up 2%, to 3.65 million m.t., including 1.11 million m.t. produced...

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