Chemical Units at Oil Majors Post Lower Profits

Chemical business units of oil majors posted mostly lower results, on weak volumes and margins. ExxonMobil Chemical reported first-quarter net income of $701 million, down 54% from the year-ago quarter. Sales volumes were flat, at 6.3 million m.t. OxyChem, the chemical business of Occidental Petroleum, reported first-quarter net income of $184 million, down 16%, primarily a result of lower export volumes and higher raw material costs. Sales were down 1.5%, to $1.1 billion. Shell’s downstream business unit, which includes its chemical business, posted earnings...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers