French oil, gas and petrochemicals group, Total chemicals showed a 70% YOY drop in adjusted net operating income in the Q2 to US$109 mln on narrower margins. The rapidly mounting naphtha prices coupleed with a slowing demand in Atlantic led to feeble margins for petrochemicals for Q2 of 2008.
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Monday, August 04, 2008
Total Group's net profit up 39% in Q2; chemicals show a dismal drop of 70% YOY
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