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ExxonMobil chemical, OxyChem earnings fall

7:00 AM MDT | August 9, 2013

ExxonMobil reports second-quarter chemical segment earnings of $756 million, a decline of 48%, or $693 million, from the year-ago quarter due mainly to the impact of the sale of certain refining and chemical assets in Japan in the year-ago quarter. The Japan sale has not produced any gains, thereby decreasing earnings by $630 million, ExxonMobil says. Seperately, Occidental Petroleum says that core earnings in its chemical segment for the second quarter, excluding a pretax gain from the sale of its stake in Brazilian chlorovinyls maker Carbocloro, was $144...

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