29 July 2010 14:07 [Source: ICIS news]
TORONTO (ICIS)--ExxonMobil’s second-quarter chemical segment earnings surged to $1.37bn (€1.06bn), from $367m in the year-earlier period, on improved margins and higher sales volumes amid strong global demand, the US-based energy and chemicals major said on Thursday.
Stronger margins improved chemical earnings by $840m and higher sales volumes increased earnings by $120m, the company said.
Second-quarter prime chemical product sales were 6,496,000 tonnes, up 3.7% from 6,267,000 tonnes in the 2009 second quarter, it said.
Overall, the Texas-based oil and gas major reported second-quarter net earnings, excluding special items, of $7.6bn, up 85% from the 2009 second quarter, on higher crude oil realisations, improved downstream margins, and the strong chemical results.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|