Germany’s BASF, owner of oil and gas producer Wintershall, said Friday it expects gas prices to remain depressed throughout 2016 as it struggles to compensate for the loss of sales from its divested gas trading business. BASF CEO Kurt Bock said he expected group revenues to be down “significantly” this year because of the low prices and the major gas divestment. The company said it was basing its 2016 planning on a $40/b oil price and on gas prices that “are likely to hover considerably below the level of 2015.” “Sales and income from operations are likely to see a considerable decline compared with 2015, largely on account of the significant drop in oil and gas prices as well as the […]