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BP's petchem loss widens

5:55 AM MDT | July 29, 2014 | Ian Young

BP's petrochemicals business posted an underlying loss before interest and tax of $98 million in the second quarter on a replacement cost (RC) basis compared with an underlying RC loss before interest and tax of $24 million in the year-earlier period. Sales have not been disclosed, but the company says that its petrochemical production slipped to 3.37 million m.t. in the second quarter from 3.41 million m.t. one year earlier. "The loss was principally due to environmental factors, especially in the aromatics business, as excess supply in Asia and high xylene...

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