9 – Minority interests

In the second quarter and first half of 2016, lower minority interests in profits year-on-year were mainly the result of the disposal of shares in companies active in the gas trading and storage business in connection with the asset swap completed with Gazprom on September 30, 2015. BASF TOTAL Petrochemicals LLC in Port Arthur, Texas, also contributed to the decrease.

The decline in minority interests in losses arose from the positive earnings contribution of Shanghai BASF Polyurethane Company Ltd. in Shanghai, China, in both the second quarter and the first half of 2016. In the same periods of the previous year, this company had contributed to minority interests in losses. Due to a drop in sales prices, the second quarter and the first half of 2016 both included minority interests in losses primarily at BASF PETRONAS Chemicals Sdn. Bhd., Shah Alam, Malaysia.