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BP’s petchem profit slips

2:54 PM MST | March 3, 2014

BP’s petrochemicals business reports an underlying replacement cost (RC) profit before interest and taxes of $44 million in the fourth quarter of 2013, down slightly from $46 million in the fourth quarter of 2012. Sales have not been disclosed, but BP’s fourth-quarter 2013 petrochemical production was flat, at 3.4 million m.t. Full-year 2013 underlying RC profit before interest and taxes at BP’s petrochemicals business was $130 million, down from $166 million in 2012. “Margins and volumes continued to be under pressure in 2013 with oversupply in certain...

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