Company Insights Sabic Petrochemicals Sabic News Industry Maaden to acquire Sabic’s stake in Bahrain’s Alba Saudi Arabian Mining Company (Maaden) will acquire Saudi Basic Industries Corporation’s (Sabic) 20.62 percent share in Aluminium Bahrain (Alba) as part of its global growth strategy. The Saudi-listed mining major aims to grow ten times by 2040, with its aluminium business being the core contributor. Maaden will become the second-largest shareholder in Alba, holding a 20.62 […] September 18, 2024 Renewable Energy Iraq to issue first licence for blue ammonia plant Iraq will soon issue a license to build its first blue ammonia plant, in an attempt to cut the country’s carbon footprint. The National Investment Commission (NIC), which is entrusted with drawing foreign investments in the country, is working on completing the requirements to grant an investment license for the plant in the Basra region, […] August 29, 2024 Analysis Markets Saudi blue-chips help Gulf dividends dwarf global average Saudi companies form the bulk of Gulf businesses that have announced second quarter dividends, but it is the Commercial Bank of Kuwait that provided the highest dividend yield. Saudi Aramco, Bahrain’s Batelco and Dubai’s Tecom Group are other standouts by this metric. Of the listed Gulf companies with a market capitalisation of more than $1 […] August 13, 2024 Energy Sabic keeps capex at $5bn in 2024 as quarterly profit rises Petrochemicals major Saudi Basic Industries Corporation (Sabic) will maintain capital expenditure between $4 billion and $5 billion for 2024 after its quarterly profits surged. Net profit rose 32 percent year on year to SAR2.4 billion ($640 million) in the first half of 2024, driven by higher sales volume. NewsletterGet the Best of AGBI delivered straight […] August 2, 2024 Energy Saudi Arabia to build new blue ammonia plant Saudi Arabia’s energy ministry has approved feedstock for a new blue ammonia plant. Sabic Agri-Nutrients Company, which trades on the Saudi stock exchange, will build its sixth facility in Jubail Industrial City to produce 1.2 million metric tonnes per annum (mmtpa) of low-carbon blue ammonia and 1.1 mmtpa of urea and specialised agri-nutrients. Engineering studies […] July 4, 2024 Energy Sabic to pay $1.4bn dividend despite profit drop Saudi Basic Industries Corporation (Sabic) has declared a cash dividend of more than SAR5 billion ($1.4 billion) for the first six months of 2024. The board of the company, which is wholly owned by oil giant Saudi Aramco, announced the dividend payout this week, paying SAR1.7 per share. The dividend payout will take place on […] May 22, 2024 Opinion Oil & Gas The fascinating complexity of China’s Middle East energy ties Saudi Aramco is seeking to anchor its position in the Chinese market, and particularly in petrochemicals May 20, 2024 Analysis Manufacturing Gulf petrochems sidestep curbs from global plastics treaty Major petrochemical exporters such as Saudi Arabia are unlikely to face mandatory production curbs despite latest efforts to craft a global plastics treaty and clamp down on single usage. At a UN Environment Assembly in early 2022, member countries approved a resolution to end plastic pollution and forge an “international legally binding agreement” by the […] May 2, 2024 Mining Manara takes a $2.5bn stake in Brazilian mining giant Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), has completed a $2.5 billion deal to acquire a stake in a subsidiary of Brazilian giant Vale. Maaden said in a filing to the Saudi Exchange that it has acquired 10 percent of Vale Base Metals Limited […] May 1, 2024 Oil & Gas Aramco targets another petrochemical company in China Saudi Aramco has begun talks to acquire a 10 percent stake in Hengli Petrochemical Company, owner of a 400,000 barrel a day refinery and chemicals complex in Liaoning, north-east China. Hengli Petrochemical, a subsidiary of Hengli Group, also operates plants and production facilities in Jiangsu and Guangdong provinces. The kingdom’s state-owned oil company is looking […] April 23, 2024 Posts navigation Previous 1 … 3 4 5 … 9 Next
Industry Maaden to acquire Sabic’s stake in Bahrain’s Alba Saudi Arabian Mining Company (Maaden) will acquire Saudi Basic Industries Corporation’s (Sabic) 20.62 percent share in Aluminium Bahrain (Alba) as part of its global growth strategy. The Saudi-listed mining major aims to grow ten times by 2040, with its aluminium business being the core contributor. Maaden will become the second-largest shareholder in Alba, holding a 20.62 […] September 18, 2024
Renewable Energy Iraq to issue first licence for blue ammonia plant Iraq will soon issue a license to build its first blue ammonia plant, in an attempt to cut the country’s carbon footprint. The National Investment Commission (NIC), which is entrusted with drawing foreign investments in the country, is working on completing the requirements to grant an investment license for the plant in the Basra region, […] August 29, 2024
Analysis Markets Saudi blue-chips help Gulf dividends dwarf global average Saudi companies form the bulk of Gulf businesses that have announced second quarter dividends, but it is the Commercial Bank of Kuwait that provided the highest dividend yield. Saudi Aramco, Bahrain’s Batelco and Dubai’s Tecom Group are other standouts by this metric. Of the listed Gulf companies with a market capitalisation of more than $1 […] August 13, 2024
Energy Sabic keeps capex at $5bn in 2024 as quarterly profit rises Petrochemicals major Saudi Basic Industries Corporation (Sabic) will maintain capital expenditure between $4 billion and $5 billion for 2024 after its quarterly profits surged. Net profit rose 32 percent year on year to SAR2.4 billion ($640 million) in the first half of 2024, driven by higher sales volume. NewsletterGet the Best of AGBI delivered straight […] August 2, 2024
Energy Saudi Arabia to build new blue ammonia plant Saudi Arabia’s energy ministry has approved feedstock for a new blue ammonia plant. Sabic Agri-Nutrients Company, which trades on the Saudi stock exchange, will build its sixth facility in Jubail Industrial City to produce 1.2 million metric tonnes per annum (mmtpa) of low-carbon blue ammonia and 1.1 mmtpa of urea and specialised agri-nutrients. Engineering studies […] July 4, 2024
Energy Sabic to pay $1.4bn dividend despite profit drop Saudi Basic Industries Corporation (Sabic) has declared a cash dividend of more than SAR5 billion ($1.4 billion) for the first six months of 2024. The board of the company, which is wholly owned by oil giant Saudi Aramco, announced the dividend payout this week, paying SAR1.7 per share. The dividend payout will take place on […] May 22, 2024
Opinion Oil & Gas The fascinating complexity of China’s Middle East energy ties Saudi Aramco is seeking to anchor its position in the Chinese market, and particularly in petrochemicals May 20, 2024
Analysis Manufacturing Gulf petrochems sidestep curbs from global plastics treaty Major petrochemical exporters such as Saudi Arabia are unlikely to face mandatory production curbs despite latest efforts to craft a global plastics treaty and clamp down on single usage. At a UN Environment Assembly in early 2022, member countries approved a resolution to end plastic pollution and forge an “international legally binding agreement” by the […] May 2, 2024
Mining Manara takes a $2.5bn stake in Brazilian mining giant Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), has completed a $2.5 billion deal to acquire a stake in a subsidiary of Brazilian giant Vale. Maaden said in a filing to the Saudi Exchange that it has acquired 10 percent of Vale Base Metals Limited […] May 1, 2024
Oil & Gas Aramco targets another petrochemical company in China Saudi Aramco has begun talks to acquire a 10 percent stake in Hengli Petrochemical Company, owner of a 400,000 barrel a day refinery and chemicals complex in Liaoning, north-east China. Hengli Petrochemical, a subsidiary of Hengli Group, also operates plants and production facilities in Jiangsu and Guangdong provinces. The kingdom’s state-owned oil company is looking […] April 23, 2024
