Juergen Hambrecht, CEO of BASF
Media playback is unsupported on your device

BASF: Libya situation 'very severe and difficult to judge'

Germany's BASF has reported strong fourth quarter results. The improving global economy boosted sales and net profit for the full year came in at more than $6bn.

BASF says it is concerned about the situation in Libya - its Wintershall subsidiary has oil and gas interests there.

Despite the tension in the Middle East, Juergen Hambrecht, CEO of BASF, says he expects oil prices to stabilise.

  • 24 Feb 2011
Go to next video: Petrol prices 'could rise by 5p'