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

2:29 AM MDT | April 29, 2011 | Natasha Alperowicz

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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