28.10.2010

Reliance Q2 Net Seen Up, Gas Prices to Boost ONGC

India's Reliance Industries is likely to post a fourth straight rise in quarterly profit, helped by higher gas output from its field off India's east coast and improvements in refining margins. The company's near-term business outlook will depend on increases in gas production, the outlook for refining margins and investment plans for its newly-found interests in shale gas and telecoms businesses, analysts said. more17.08.2010

Lyondellbasell Posts Profit After Bankruptcy Exit

Plastics and chemical company LyondellBasell Industries NV, which just emerged from Chapter 11 bankruptcy, posted a second-quarter profit on Monday, sending its stock up nearly 5%. But the Rotterdam, Netherlands-based company said the long-term fundamentals for the industry had not changed appreciably, despite strong U.S. ethylene margins and improved results in European olefins and polyolefins. more16.08.2010

Hexion Swings to Q2 Profit as Revenues Jump

Privately owned Hexion Specialty Chemicals said it swung to a second-quarter profit versus a year-ago loss as sales volumes and prices rose. Net income was $52 million in the quarter versus a net loss of $56 million a year ago as revenues jumped to $1.3 billion from $956 million. Lower expenses and an improved cost structure bolstered profit, partially offset by the impact from foreign currency, the company said. Sales volumes rose 30% from the prior-year period and 8 percent from the first quarter, aided by a recovery in Hexion's base epoxy business. more06.08.2010

Lanxess Credits 'Strategic Positioning' for Strong Q2

Lanxess has reported significantly better-than-expected results in the second quarter of 2010, which the company says is due to its strategic positioning in the emerging markets. As a result, the specialty chemicals company has raised its earnings forecast for the business year 2010. It now expects Ebitda pre exceptionals of roughly €800 million for the full year after previously forecasting €650-700 million in May 2010. more06.08.2010

Huntsman Posts Better-Than-Expected Q2 Profit

Chemicals maker Huntsman posted a higher-than-expected quarterly profit on Thursday as sales jumped across its units, pushing shares up 4.7% in premarket trading. For the period that ended June 30, the company posted net income of $114 million, or 47 cents per share, compared with $406 million, or $1.51 per share, in the year-ago period. The year-ago results include a settlement with two banks over a botched sale of Huntsman to a private equity firm. Excluding one-time items, the company posted a profit of 31 cents per share. more05.08.2010

Dow Corning Reports Record Sales in Q2

Dow Corning has reported consolidated net income of $220.7 million for the Q2 2010, an increase of 91% from consolidated net income of $115.4 million reported for the second quarter of 2009. Adjusted net income for the second quarter of 2010 was $214.9 million and $115.5 million in 2009. For the first half of 2010, consolidated net income was $439 million, an increase of 252% from consolidated net income of $124.8 million reported in the first half of last year. more04.08.2010

Solvay: Chemicals and Plastics Activities for Q2 2010 Significantly Higher

Group sales for the first half of 2010 amounted to €3,761 million. They were up by 25% compared to the first half of 2009, not including the pharmaceuticals activities; compared to Q1, sales from the Q2 improved by 16%. Sales from the chemicals cector (€1,444 million) were up +3% compared to the first half of 2009, with the improvement in sales volumes (+16%) compensating for the lower sales prices (-16%). more03.08.2010

Ineos Confirms Continuation of Strong Trading Conditions in Q2 2010

Ineos reports that historical cost Ebitda (‘HC Ebitda') for the Q2 of 2010 was €478 million, compared to €352 million for Q2, 2009 and €494 million for Q1, 2010. Refining inventory holding losses amounted to €18 million in the quarter, reflecting the movement in crude oil prices over the period. Combined replacement cost Ebitda for refining and historical cost Ebitda for Chemicals (‘RC/HC Ebitda') was €496 million for the quarter, compared to €239 million for Q2, 2009 and €474 million for Q1, 2010. more03.08.2010

Dow Chemical Profit, Revenue Miss Wall Streets Views

Dow Chemical posted lower-than-expected quarterly profit on Tuesday as three plant outages offset a jump in sales across all units and regions, sending shares of the biggest U.S. chemical producer down 3.6% in premarket trading. more02.08.2010

Akzo Nobel: Q2 a ‘Good Quarter’

Akzo Nobel has announced a revenue increase of 13% (5% positive currency translation effect) for the second quarter of 2010 and the early achievement of the 14% Ebitda margin target set for the end of 2011. more