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(ICIS) -- Total's adjusted net operating
income for its chemicals business in the first quarter of 2011 surged 52% year
on year to EUR 238 mln (USD 355 mln) on the back of higher demand and margins,
the French oil and gas major said on Friday.
Chemical sales for the first quarter rose 21% year on year to EUR 5.1bn,
the company said in a statement.
Sales of base chemicals rose 31% to EUR 3.32bn in the first quarter of
2011, from EUR 2.53bn in the same period a year earlier, while revenues from
specialty chemicals rose 6% to EUR 1.79bn.
Overall, Total’s adjusted net income rose 35% year on year to EUR 3.1bn,
as sales climbed 22% to EUR 46bn, the company said.
Looking ahead, Total is looking to invest in improving the energy
efficiency and competitiveness of its Normandy plant and to increase its
production capacity in South Korea and Qatar, the company added.
mrcplast.com
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