ExxonMobil Q1 chem earnings fall 54% on weaker margins
26 April 2012 13:41 [Source: ICIS news]
HOUSTON (ICIS)--ExxonMobil’s first-quarter chemical segment earnings fell 54% year on year to $701m (€533m), primarily because of lower margins, the US-based international energy and petrochemicals major said on Thursday.
ExxonMobil said that weaker margins decreased chemical earnings by $520m, compared with the 2011 first quarter.
Other items, including higher planned maintenance and the absence of favourable tax items, pushed earnings down by $300m.
First-quarter prime product sales in the chemicals segment rose slightly by 15,000 tonnes to 6.337m tonnes.
Overall, ExxonMobil recorded an 11% year-on-year decline in first-quarter earnings, to $9.45bn, as production fell 5% from the 2011 first-quarter, the company said.
($1 = €0.76)
By: Stefan Baumgarten
+1 713 525 2653
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 |
Related Articles
- 01 Jun 12 13:35 US ExxonMobil plans world-class Texas petchem project
- 01 Jun 12 10:53 ExxonMobil to build multi-billion dollar US chem plant - reports
- 04 May 12 15:00 INSIGHT: Investing for efficiency in tricky European environment
- 01 May 12 11:39 BP's Q1 petchems profits drop to $112m in margin squeeze
- 30 Apr 12 17:04 INSIGHT: Global chemicals production growth stalls in March
- 27 Apr 12 15:57 US Chevron Q1 downstream earnings rise 29% on gains from asset sales
- 26 Apr 12 12:56 US Dow Chemical underlying profit down as net falls 27.8% to $520m
- 26 Apr 12 19:11 Canada weekly chemical railcar traffic rises 9.4%
- 26 Apr 12 19:00 VIDEO – ICIS Americas Lunchtime Bulletin 26 April 2012
- 26 Apr 12 19:00 VIDEO – ICIS Americas Lunchtime Bulletin 26 April 2012
- 26 Apr 12 17:54 US weekly chem railcar traffic rises 5.4% year on year
- 23 Apr 12 03:37 ExxonMobil eyes $55/tonne hike for May PX Asian Contract Price
- 19 Apr 12 14:55 ExxonMobil shuts down line at Texas PE plant
- 16 Apr 12 18:14 US ExxonMobil reports flaring during Texas olefins start-up
Latest News
- 19 Jun 13 09:29 India’s MRPL issues purchase tender for August-loading sweet crude
- 19 Jun 13 09:28 Al Bio awards $1.3m in grants for six Canadian biotech projects
- 19 Jun 13 08:50 China’s Hangzhou Zhechen Rubber to shut SBR plant on 28 June
- 19 Jun 13 08:42 Norway's Odfjell, US' Lindsay Goldberg complete tank terminal deal
- 19 Jun 13 08:40 Saudi's JUPC extends No 1 MEG unit shutdown to end-June