SUSTG.com / Research
Discover stories, topics, and more about Saudi Arebia faster.
Recent stories from sustg
-
Report: Saudi Aramco Mulls Stake in SABIC
Saudi Aramco has invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in Saudi Basic Industries Corp (SABIC), two sources with direct knowledge of the matter told Reuters. Riyadh-listed SABIC, the world’s number-four chemical firm, is 70 percent owned by the Public Investment Fund, Saudi Arabia’s top sovereign […]
-
Crown Prince Mohammed bin Salman visits Harvard, MIT in Boston
Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America’s premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030. The visit to Boston is the second stop in a weeks long tour across the United States, his first […]
-
Counting The US-Saudi Deals: A Look at What We Know So Far following President Trump’s Visit to Saudi Arabia
Bloomberg and naturalgasintel.com feature a thorough rundown of all of the deals that were announced during the recent visit by President Donald Trump to Saudi Arabia. While the total remains unknown, the deals are estimated to be valued between $300 and $400 billion. Aerospace, Arms and Defense – $110 billion U.S. Department of Defense and Saudi […]
-
Saudi King Salman Returns Home from Asia Tour, Deputy Crown Prince Mohammed Departs United States
Saudi Arabia’s King Salman returned home from a month-long trip to several Asian nations this weekend as Deputy Crown Prince and Minister of Defense Mohammed bin Salman, left the United States. King Salman arrived in Riyadh on Saturday after a successful visit to China, where the Kingdom signed up to $65 billion in trade deals […]
-
Petrochemicals Sector in Saudi Arabia Remains Vital for Vision 2030 Aims
The Petrochemicals sector in Saudi Arabia makes up 60% of the Kingdom’s non-oil exports and remains vital to the Kingdom’s Vision 2030 aims, according to a recent study on the sector released by Jadwa Investment. The sector’s prominence in the non-oil economy means it has been identified by both the National Transformation Program (NTP) 2020 and […]
-
SABIC, Exxon Affiliate Studying JV Petrochemicals Complex on U.S. Gulf Coast
Saudi Arabia’s SABIC said Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. Exxon Mobil. fIf developed, the project would be “located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units,” the company said. Before making final investment decisions, the companies will “conduct necessary […]
-
First Ever Direct Crude to Chemicals Plant “One Step Closer” for Aramco, SABIC
State-owned Saudi oil giant Aramco and diversified chemicals company SABIC are “one step closer” to being the first ever to use crude oil directly, rather than using refined products such as naphtha or ethane gas as feedstock, to create chemicals, according to reports and announcements by the companies on Saudi Arabia’s stock exchange. The achievement […]
-
G.E. Jumps Into Saudi Economic Reforms with $1.4b in Deals, Doubled Workforce
General Electric (G.E.) has won a series of deals in Saudi Arabia worth $1.4 billion and said it would double its workforce in the Kingdom from 2,000 to 4,000 by 2020, according to reports. The deals amount to “support” for Saudi Arabia’s “Vision 2030” reform plan, according to Reuters, and were announced by the company’s […]
-
Mining in Focus for ‘Vision 2030’ as Ma’aden Appoints Health Minister Khalid al-Falih Chairman, Reshuffles Board
Saudi Arabia’s ‘Vision 2030’ plan to diversify its economy identifies the mining and minerals sector as one of the top non-oil growth sectors for the Kingdom. Days after the Vision 2030 plan was announced the Saudi Public Investment Fund (PIF) reshuffled the board of the Saudi Arabian Mining Company – known as Ma’aden – and […]
-
Major Policy Shifts Revealed in Bloomberg Interview with Deputy Crown Prince Mohammed Bin Salman
In an extensive interview with Bloomberg Saudi Arabia’s deputy crown prince Mohammed bin Salman outlined his vision for several major economic initiatives. These include a plan to offer shares in all of Saudi Arabian Oil Company (Saudi Aramco) rather than just it’s downstream and refining assets. “The mother company will be offered to the public […]
- 10 of 51 results<< 1 2 3 4 5 6 >>
MUST-READS
-
Saudi Arabia’s SABIC expands petrochemical portfolio with Aramco deal
Saudi Aramco in 2020 finalized its acquisition of a 70% stake in SABIC for $69 million. Since then, Aramco has been working to integrate SABIC into its downstream business. The two companies are focusing on selective integration synergies, including in manufacturing, information technology, project management and sales, SABIC said. So far, overlaps identified between the two companies are worth $3 billion-$4 billion annually, and a committee has been assembled to oversee the integration of these, Aramco has said previously.
-
SABIC beats forecasts with $1.3 billion first-quarter net profit
Saudi Basic Industries Corp (SABIC) (2010.SE) on Thursday reported first-quarter net profit of 4.86 billion riyals ($1.30 billion), rebounding from a loss in the same period a year earlier on the back of higher average prices. The petrochemicals group cited improved margins, driven by higher product and oil prices, and healthy demand, while supply for its key products remained tight.
-
Saudi Arabia’s SABIC picks HSBC, Morgan Stanley for specialty unit IPO – sources
SABIC, the world’s fourth-biggest petrochemicals firm, hired Saudi investment bank NCB Capital earlier this year to work on the public share sale, which sources said could raise several hundred million dollars.
-
Saudi Arabia announces $1.3 trillion private sector investment push led by Aramco, SABIC
The move aims to mobilise the Gulf Arab state’s private sector to help wean the economy off its reliance on oil exports, which still account for more than half the state’s income, and develop new sectors to help create jobs for millions of Saudis.
-
Dow, Saudi’s Sabic to market Sadara Chemical products
State-owned Saudi downstream producer Sabic and US petrochemical producer Dow will begin marketing Sadara Chemical products in the Middle East from 1 July. Sabic and Dow will take over marketing of Sadara's products in Saudi Arabia, Egypt, Jordan, Lebanon, Palestine and Iraq, according to a letter that Saudi Arabia-based Sadara sent to its customers on 28 March. Sabic will handle polyutheranes, chemical products and polyethylene from Sadara, except for low-linear density polyethylene (LLDPE) hexene, octene and elastomers, which Dow will market and sell.
-
Saudi Chemical Giant Sabic Sees Vaccinations Boosting Income
The Riyadh-based firm, controlled by Saudi Aramco, said it sees the global rollout of coronavirus vaccines leading to a 2% to 5% gain in revenue this year. Pretax income will be “moderately higher” than in 2020, while capital expenditure will be similar, Sabic said in a results statement.
-
SABIC And Plastic Energy Set To Start Construction Of Pioneering Advanced Recycling Unit To Increase Production Of Certified Circular Polymers
In another significant contribution towards the development of a circular economy for plastics, SABIC and Plastic Energy are set to commence construction on the first commercial unit to produce its flagship certified circular polymers, part of the TRUCIRCLE™ portfolio, which are made from the upcycling of mixed and used plastic.
-
Saudi petrochemicals giant SABIC hires NCB for speciality chemicals unit IPO – sources
Saudi Basic Industries Corp (SABIC) has hired NCB Capital to advise on a potential listing of its speciality chemicals business, an offering that could raise several hundred million dollars, three sources said.
-
SABIC seeks Clariant chairman’s ouster in post-Christmas coup
Clariant’s biggest shareholder, Saudi Basic Industries Corporation, on Monday re-ignited a battle over the Swiss chemicals maker’s future by seeking a 12-year board member term limit that would force Chairman Hariolf Kottmann’s ouster.
-
Sabic Is Said to Weigh IPO of Specialty Chemicals Business
The company has no current plans to borrow and will focus on “liabilities and capex and managing costs” over the next year, Sabic Chief Executive Officer Yousef Al-Benyan said in a Bloomberg TV interview last month.
- 10 of 133 results<< 1 … 3 4 5 … 14 >>