OxyChem says its fourth-quarter earnings for chemicals were up 19%, to $180.0 million, primarily because of higher export volumes for caustic soda and vinyl chloride monomer, and lower ethylene costs. Chemical segment sales were up 4.1%, to $1.14 billion. Full-year 2012 chemical earnings were $720.0 million, down 16% from the year-ago period, primarily because of lower margins caused by weaker economic conditions in Europe and Asia, and increased competitive activity from these regions, the company says.
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