BASF profits were firmly up last year, driven by oil and gas revenues. But the company is still implementing a fresh round of cost cutting.
Germany's chemicals giant BASF and Russian energy company Gazprom have agreed to call off an important asset swap that the two firms had planned for the end of the year. The reason for the move was not immediately given.
The world's largest chemicals company, BASF, has reported a dent in earnings from its oil and gas business. But its chemicals segment has more than compensated for it, seeing the German firm growing in the first quarter.