Friday, 6 May 2016

The Unloved Business That's Saved Big Oil From Low Energy Prices - Bloomberg

The Unloved Business That's Saved Big Oil From Low Energy Prices - Bloomberg:

"Big Oil is suddenly Big Chemical.
For years, the business of turning gas and crude into the chemicals used to make everything from plastic bags to paint has been a mostly unloved corner of the world’s largest oil companies. Now, it’s shining, cushioning companies from Exxon Mobil Corp. to Royal Dutch Shell Plc from the worst energy price slump in a decade.
“Chemicals are coming back on to the radar screen,” Simon Henry, chief financial officer at Shell, Europe’s largest oil company, said on Wednesday."



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