BP's petrochemicals business swings to loss

BP's petrochemicals business posted an underlying replacement cost loss before interest and taxes of $20 million in the third quarter of 2012, compared with a profit of $235 million in the corresponding period of 2011. Sales were not disclosed. BP's overall petrochemical production volumes slipped to 3.58 million m.t. in the third quarter, from 3.59 million m.t. in the year-earlier period. The third-quarter loss reflects "continued weakness in margins globally, resulting from recent capacity additions in Asia, high feedstock prices for aromatics production...

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