Wintershall aims for higher sales, profits in 2012

BASF subsidiary Wintershall said it expects to raise turnover and profit in 2012 provided this year's crude oil prices are the same as in 2011 and given that it reopened oil operations in Libya that caused losses last year.

The oil and gas company said that it achieved turnover of 12.1 billion euros ($15.8 billion) last year, which was 12 percent up from 2011. Net profit was 15 percent up year-on-year at 1.1 billion euros.

But earnings before interest and taxes (EBIT) dropped by 10 percent to 2.1 billion euros because of lower production in war-torn Libya.

Wintershall is a big revenue contributor parent company BASF. ($1 = 0.7677 euros)

(Source: Reuters)

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