Total's Chemicals Earnings and Sales Surge on Stronger Demand and Higher Margins

Total reported huge increases in its chemicals earnings and revenues in the first quarter of 2011. Adjusted operating income was up 70% at €262 million ($388.8 million) while adjusted net operating income was 52% higher at €238 million. Adjusted net operating income rose 170% to €119 million in base chemicals and 3% to €121million in specialties compared with the year-earlier period. Overall chemical sales were up 21% at €5.1 billion, including a 31% hike in base chemicals revenues to €3.3 billion and 6% higher specialties sales...

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