19 October 2010 13:33 [Source: ICIS news]
TORONTO (ICIS)--Occidental Petroleum’s third-quarter earnings in its OxyChem chemicals segment soared to $189m (€136m), from $72m in the 2009 third quarter, on improved margins and higher volumes for its chlor-alkali and vinyl products, the company said on Tuesday.
Chemical sales for the three months ended 30 September were $1.05bn, up almost 25% from $842m in the 2009 third quarter.
Chemical export volumes increased 22% from the year-earlier quarter, Occidental added.
Overall, the Los Angeles-based oil and gas major reported third-quarter net income of $1.2bn, up 28% from the 2009 third quarter, due to higher crude and natural gas prices, among other factors, it said.
($1 = €0.72)
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|