Issue Date: February 25, 2008
Chemical Earnings Sink At Petroleum Firms
Fourth-quarter and full-year 2007 results for the chemical businesses of U.S. oil companies showed weakness in commodity chemicals, due mostly to high raw material costs.
The five companies surveyed by C&EN posted combined earnings of $1.3 billion in the fourth quarter, a 20% decrease versus the same quarter one year ago. For the year, the aggregate earnings at these companies were $5.9 billion, a decline of close to 8% compared with 2006.
The largest of . . .
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