Italy's Eni chems Q2 net loss widens on poor demand, sales

01 August 2013 07:25  [Source: ICIS news]

SINGAPORE (ICIS)--Italian oil and gas giant Eni said on Thursday its chemicals subsidiary Versalis’ adjusted net loss widened to €78m ($104m) in the second quarter of this year, from a loss of €24m in the same period in 2012, amid weak demand and poorer sales.

Versalis’sales of petrochemical products fell by 4.88% year on year to €1.52bn in the second quarter of this year, Eni said in a statement.

Versalis posted an adjusted operating loss of €82m in the second quarter of this year, widening from the €25m loss in the same period a year earlier, “reflecting lower marketed volumes due to weak commodity demand impacted by the current economic downturn as well as declining benchmark cracking margins,” it said.

On a group level, Eni’s net profit rose by 21.1% year on year to €275m in the second quarter of this year.

($1 = €0.75)


By: Nurluqman Suratman



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