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    Home > Chemicals Industry > International Chemical > BASF's first-quarter profit slides on impairments

    BASF's first-quarter profit slides on impairments

    • Last Update: 2022-05-16
    • Source: Internet
    • Author: User
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    BERLIN, April 11 (Reuters) - German chemicals group BASF reported an unexpected drop in net income in the first quarter as its oil and gas division co-financed the abandoned Nord Stream 2 project emerged on Monday.


    Germany suspends the Nord Stream 2 gas pipeline project in the Baltic Sea


    BASF said its preliminary first-quarter net profit fell to 1.


    Other financiers of Nord Stream 2 have also announced write-downs, while French utility Engie said its credit risk exposure to Nord Stream 2 was as high as 987 million euros


    BASF reported a net profit of 17.


    (1 USD = 0.


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