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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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