Chemical Week Magazine :: Newsbriefs
BP Profits Plunge
8:33 AM MDT | August 3, 2012
BP reported a 90% year-on-year decline in second-quarter underlying profit before interest and taxes for the companyâ€™s petrochemicals business, on a replacement cost basis, to $28 million. The dramatic fall in earnings reflects â€śparticular weakness in aromatics margins, resulting from growing capacity,â€ť BP says. The petchems business faced â€śsubdued demandâ€ť compared with the corresponding period of 2011, the company says. Sales were not...
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