BASF Q2 sales fall as oil downturn hits prices

By Kasia Patel
Published: Thursday, 28 July 2016

The decline in oil and gas prices continued to bite as global chemicals producer BASF noted a 24% decline in sales for the second quarter. However, the company has seen positive activity in its coatings segment, particularly an increase in demand from the automotive market in China.

Global chemicals company BASF reported a 24% decline in sales to €14.5bn ($15.94bn*) in the second quarter of 2016 owing to the divestiture of its gas trading and storage business, the company said in its quarterly financial statement today.

EBIT** also declined by €336m to €1.7bn compared with...

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