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Total's Chemicals Business Posts Earnings, Sales Hikes

5:23 AM MDT | October 29, 2010 | Ian Young

Total says that net profits at the company's chemicals business jumped 59% in the third quarter of 2010 compared with the corresponding period of 2009, to €256 million on sales up 15%, to €4.5 billion. Earnings at Total's base chemicals segment, consisting mainly of the Total Petrochemicals subsidiary, rose more than three-fold year on year, to €133 million on sales up 18%, to €2.75 billion. However, Total's chemical sales and earnings were down compared with the second quarter of 2010, slipping 3% and 7%, respectively. "In the third...

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