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BASF oil, gas offsets plastics weakness

from Reuters

BASF reported growing profit from its oil and gas unit as production ramped up in Libya, helping to offset the lower volumes and high raw-material prices that weighed on its legacy chemicals and plastics businesses. The world's largest chemicals maker by sales said first-quarter earnings before interest and tax adjusted for one-off items declined less than expected, easing 7.3 percent to 2.53 billion euros compared with a consensus forecast of 2.32 billion. more


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