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  • Saudi’s SABIC Signs Agreement to Study Feasibility of Investing in Polish Petrochemical Sector

    Saudi petrochemical company SABIC has signed a joint development agreement with Saudi Aramco and PKN ORLEN, the largest energy group in Poland, to jointly assess the technical and economic feasibility of establishing a petrochemical production project in Gdańsk, Poland.

  • SABIC posts 67% fall in Q3 profit on higher costs, impairment

    Petrochemicals firm Saudi Basic Industries Corp (SABIC) (2010.SE) said on Sunday it expected margins to be under pressure in the fourth quarter as its third quarter net profit fell 67% year-on-year on higher costs and an impairment charge. SABIC's net profit fell to 1.84 billion riyals ($489.62 million) from 5.59 billion riyals in the third quarter of 2021. The petrochemicals giant said in a stock exchange filing an impairment provision of 510 million riyals "w

  • Saudi’s SABIC posts near 4% rise in Q2 net profit

    Saudi Basic Industries Corp (2010.SE) (SABIC) said on Tuesday that it expects margins to be under pressure in the second half of 2022, due to a slowdown in global growth, lockdowns in China, conflict in Europe and continued supply chain challenges. The guidance from the world's fourth-biggest petrochemicals firm by sales and asset value came as it reported an almost 4% rise in second-quarter net profit.

  • Saudi’s SABIC posts near 4% rise in Q2 net profit

    Saudi Basic Industries Corp (2010.SE) (SABIC) said on Tuesday that it expects margins to be under pressure in the second half of 2022, due to a slowdown in global growth, lockdowns in China, conflict in Europe and continued supply chain challenges. The guidance from the world's fourth-biggest petrochemicals firm by sales and asset value came as it reported an almost 4% rise in second-quarter net profit.

  • SABIC profit up 33% on higher prices, volumes

    "We think the second half of 2022 is going to be under pressure still due to the slowdown (of economic growth globally), due to inflation, also due to an increase in interest rates, which leads to... there may be some pressure on demand," he said. SABIC expects earnings before interest, tax, depreciation and amortisation (EBITDA) to be flat this year as higher sales volumes offset higher feedstock prices, it said in the statement.

  • SABIC profit up 33% on higher prices, volumes

    Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemicals firms, on Thursday beat expectations with a 33% rise in first quarter net profit on higher prices and volumes. SABIC's net profit of 6.47 billion riyals ($1.72 billion) after Islamic zakat and other taxes topped the 5.125 billion riyals forecast by analysts, Refinitiv data showed. Sales rose 40% to 52.64 billion riyals, topping an analysts forecast of 50.042 billion.

  • Sabic unveils new market solution for Saudi building sector

    Sabic carbon black grade N330 provides superior performance when blended in specific proportion with concrete and mixed with other chemicals to suit the manufacturing of pre-cast building blocks that meets the requirement of high compressive strength as per the standards set by Saudi Standards, Metrology and Quality Organization (SASO) and GCC Standardization Organization (GSO).

  • S&P upgrades outlook of Saudi firms SEC, Sabic and STC to positive on state support

    S&P Global Ratings revised the outlooks of Saudi Electric Company, Saudi Basic Industries and Saudi Telecom Company to positive from stable, citing the state support they receive.

  • Saudi chemical giant SABIC reports a massive rise in 2021 profit

    Profits skyrocketed to SR23 billion ($6.13 billion) last year, compared to SR70 million a year earlier. The Riyadh-based company attributed the rise to higher average selling prices as well as an increase in its share in joint ventures and subsidiaries.

  • Saudi Arabia’s SABIC Agri-Nutrients plans to buy 49% of ETG Inputs Holdco

    Saudi Arabian fertilizers maker SABIC Agri-Nutrients (2020.SE) said on Monday it had signed a binding agreement to acquire a 49% stake in ETG Inputs Holdco LTD. ETG Inputs Holdco blends and distributes fertilizers, seeds and agro-chemicals directly to farmers and customers in several countries in Africa, according to information on its website.