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.
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