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ENI's Petchem Business Cuts Operating Losses

8:57 AM MDT | August 1, 2012 | Sotirios Frantzanas

ENI (Rome) says operating losses for its petrochemical business narrowed by 18.8%, to €26 million ($32 million), in the second quarter of 2012, compared with €32 million in the second quarter of 2011. Net losses at ENI's petrochemical business also decreased 8% year-over-year, to €23 million. Net sales of petrochemical products decreased 8.5%, to €1.6 billion, in the second quarter, including drops of 5.5% and 12% in the net sales of basic petrochemicals and polymers, respectively. Meanwhile, petrochemical...

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