Oil firms' chemical units improve performance

Overall Financial Performance Ranking of Leading Petrochemical Companies [84,042 bytes] Major oil companies' commodity chemical operations have historically lagged petrochemical companies in financial performance. In recent years, however, they have improved their operations and closed the performance gap, due largely to restructuring efforts, says New Vernon Associates Inc., Parsippany, N.J. Performance The research firm studied the performance of the chemical operations of 7 oil companies and 11 petrochemical companies for 44 commodity chemicals and 12 non-commodity business segments. "When New Vernon Associates first compared oil and petrochemical company busin...

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