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BP's petchem business swings to loss

11:13 AM MDT | July 30, 2013 | Ian Young

BP's petrochemicals business reported an underlying replacement cost (RC) loss before interest and taxes of $24 million in the second quarter of 2013, compared with an underlying RC profit before interest and taxes of $28 million in the corresponding period of 2012. "The decrease was due to the continued difficult environment impacting both volumes and margins, and increased turnaround activity in the second quarter of this year," BP says. Sales were not disclosed. BP's overall production of petrochemicals decreased to 3.41 million m.t. in the second...

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