Monday, 11 December 2017 07:14 GMT
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SABIC profit decreases 1.8% on product prices

(MENAFN) The chief executive of Saudi Basic Industries Corp (SABIC), the petrochemicals giant, said that the company is facing hardships growing within Saudi Arabia because of a shortage of natural gas, Arabian Business reported. The company reported a profit decrease of 1.8 percent in the first quarter of 2014 compared to a year earlier, as lower product prices offset increased in production and sales volumes. "The shortage of gas and many sectors competing for it have made internal expansion very hard," chief executive said. He added that SABIC had some domestic projects under construction, one of which is a synthetic rubber plant at its KEMYA joint venture that would be launched in two to three years.


SABIC profit decreases 1.8% on product prices

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