Integrated oil firms post mixed chemical earnings; US results strong

ExxonMobil Chemical reported chemical earnings of $790 million, down 21% from the year-ago quarter, because of lower product margins. Lower margins decreased earnings by $150 million, and all other items, mainly unfavorable foreign exchange effects, reduced earnings by $60 million. ExxonMobil’s US chemical earnings were $565 million, up 5% from the year-ago quarter. Non-US chemical earnings fell 53%, to $225 million, ExxonMobil says. Third-quarter prime product sales of 5.95 million m.t. were down 4.6%, mainly from the sale of certain Japanese assets, the...

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