25 January 2012 14:17 [Source: ICIS news]
HOUSTON (ICIS)--ConocoPhillips reported a 32.2% year-on-year increase in its 2011 fourth-quarter chemical earnings to $156m (€120m), from $118m in the 2010 fourth quarter, it said on Wednesday.
The company participates in petrochemicals markets through its 50% stake in the Chevron Phillips Chemical (CP Chem) joint venture with Chevron.
For the full 12 months of 2011, ConocoPhillips's chemical segment earnings were $745m, up sharply from $498m in 2010.
Overall, Houston-based ConocoPhillips reported fourth-quarter earnings of $3.4bn, up from $2.0bn in the 2010 fourth quarter, on the back of stronger crude oil and liquefied natural gas (LNG) prices, it said.
After special items and the costs related to an oil spill in ?xml:namespace>
($1 = €0.77)
For more on ConocoPhillips, CP Chem and other producers visit ICIS company intelligence
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|