Company Insights Sabic Petrochemicals Sabic News Oil & Gas Aramco awards $3.3bn contract for new gas facilities Saudi Aramco, the world’s largest oil producer, has awarded a $3.3 billion contract to a joint venture between Spain’s Técnicas Reunidas and China’s Sinopec Engineering Group to develop new natural gas liquids (NGL) fractionation facilities in Saudi Arabia. Two engineering, procurement and construction (EPC) contracts were awarded for the Riyas NGL facilities at Jafurah gas […] January 23, 2024 Markets Saudi US treasuries holdings hit two-year high Saudi holdings of US treasuries surged to a two-year high of $128.1 billion in November from a six-year low of $108.7 billion in June, according to newly released data from the US Department of the Treasury. Treasuries are government debt instruments issued by the Treasury and auctioned by the US Federal Reserve, and are considered […] January 22, 2024 Oil & Gas Sabic to commence $6.4bn project in China in 2024 Saudi Basic Industries Corporation (Sabic) will start constructing a $6.4 billion petrochemicals complex in Fujian, China, during the first half of 2024. The Saudi-listed petrochemicals producer announced its final investment decision, which allows the development of the mega complex, after signing a memorandum of understanding (MoU) with the Fujian Provincial Government in 2018. The project […] January 22, 2024 Oil & Gas Petro Rabigh losses hit $1.7bn in fresh blow to chemicals sector Petro Rabigh, one of the largest petrochemicals producers in Saudi Arabia, has revealed that its losses now exceed SAR6.4 billion ($1.7 billion). The listed company announced in a filing to the Saudi stock exchange that losses had reached 38.4 percent of its share capital. The business, which is part-owned by state oil giant Saudi Aramco, […] January 17, 2024 Finance PIF top spender among sovereign funds in 2023 Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), was the top spender worldwide among state-owned investors, the 2024 Global Sovereign Wealth Fund report has revealed, underlining the kingdom’s determination to reallocate its hydrocarbon revenues to diversify and expand its domestic economy. State-owned investors include sovereign wealth funds (SWFs), public pension funds and central banks, […] January 1, 2024 Industry Sabic CEO warns of ‘difficult’ 2024 for chemicals industry The chemicals industry will face another “difficult” year in 2024 as the global economic outlook remains weak, Saudi Basic Industries Corporation (Sabic) CEO Abdulrahman Al-Fageeh was quoted as saying. This was a bad year for the chemical industry, he told the Bloomberg news agency, adding that he was “uncertain on whether 2024 was going to […] December 12, 2023 Oil & Gas Sabic slumps to loss as petrochem prices slide Petrochemicals producer Saudi Basic Industries Corporation (Sabic) swung to a net loss in the third quarter, hit by a slump in product prices, a loss from offloading a subsidiary and a hefty impairment on its European operations. Sabic, 70 percent owned by Saudi Aramco, made a net loss of SAR 2.88 billion in the three […] November 2, 2023 Sustainability Just 12% of Mena businesses have net zero target Businesses in the Middle East and North Africa (Mena) “lag behind” their global peers in terms of net zero targets, according to a report by the World Economic Forum and US consultancy Bain & Company. WEF evaluated the disclosure and sustainability measures of around 200 publicly listed and private companies across Mena’s nine biggest economies. […] October 20, 2023 Exclusive Sustainability Saudi carbon credit firm to invest in Middle East and Africa Saudi Arabia’s Regional Voluntary Carbon Market Co plans to invest in carbon abatement projects in the Middle East, Africa and Southeast Asia, the CEO of the government-backed startup has told AGBI. Saudi’s Public Investment Fund (PIF) and Saudi Tadawul Group, owner of the kingdom’s stock market, last October launched RVCMC. PIF holds an 80 percent […] October 12, 2023 Finance PIF sells its stake in Saudi-listed LPG retailer for $131m Saudi Arabia’s Public Investment Fund (PIF) has completed the sale of its 10.92 percent stake, or 8.19 million shares, in National Gas and Industrialization Company, a Saudi-listed liquefied petroleum gas (LPG) retailer and distributor. The sale was concluded through a private transaction for SAR491.19 million ($130.95 million), the PIF said in a statement. Jadwa Investment Company […] September 6, 2023 Posts navigation Previous 1 … 4 5 6 … 8 Next
Oil & Gas Aramco awards $3.3bn contract for new gas facilities Saudi Aramco, the world’s largest oil producer, has awarded a $3.3 billion contract to a joint venture between Spain’s Técnicas Reunidas and China’s Sinopec Engineering Group to develop new natural gas liquids (NGL) fractionation facilities in Saudi Arabia. Two engineering, procurement and construction (EPC) contracts were awarded for the Riyas NGL facilities at Jafurah gas […] January 23, 2024
Markets Saudi US treasuries holdings hit two-year high Saudi holdings of US treasuries surged to a two-year high of $128.1 billion in November from a six-year low of $108.7 billion in June, according to newly released data from the US Department of the Treasury. Treasuries are government debt instruments issued by the Treasury and auctioned by the US Federal Reserve, and are considered […] January 22, 2024
Oil & Gas Sabic to commence $6.4bn project in China in 2024 Saudi Basic Industries Corporation (Sabic) will start constructing a $6.4 billion petrochemicals complex in Fujian, China, during the first half of 2024. The Saudi-listed petrochemicals producer announced its final investment decision, which allows the development of the mega complex, after signing a memorandum of understanding (MoU) with the Fujian Provincial Government in 2018. The project […] January 22, 2024
Oil & Gas Petro Rabigh losses hit $1.7bn in fresh blow to chemicals sector Petro Rabigh, one of the largest petrochemicals producers in Saudi Arabia, has revealed that its losses now exceed SAR6.4 billion ($1.7 billion). The listed company announced in a filing to the Saudi stock exchange that losses had reached 38.4 percent of its share capital. The business, which is part-owned by state oil giant Saudi Aramco, […] January 17, 2024
Finance PIF top spender among sovereign funds in 2023 Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), was the top spender worldwide among state-owned investors, the 2024 Global Sovereign Wealth Fund report has revealed, underlining the kingdom’s determination to reallocate its hydrocarbon revenues to diversify and expand its domestic economy. State-owned investors include sovereign wealth funds (SWFs), public pension funds and central banks, […] January 1, 2024
Industry Sabic CEO warns of ‘difficult’ 2024 for chemicals industry The chemicals industry will face another “difficult” year in 2024 as the global economic outlook remains weak, Saudi Basic Industries Corporation (Sabic) CEO Abdulrahman Al-Fageeh was quoted as saying. This was a bad year for the chemical industry, he told the Bloomberg news agency, adding that he was “uncertain on whether 2024 was going to […] December 12, 2023
Oil & Gas Sabic slumps to loss as petrochem prices slide Petrochemicals producer Saudi Basic Industries Corporation (Sabic) swung to a net loss in the third quarter, hit by a slump in product prices, a loss from offloading a subsidiary and a hefty impairment on its European operations. Sabic, 70 percent owned by Saudi Aramco, made a net loss of SAR 2.88 billion in the three […] November 2, 2023
Sustainability Just 12% of Mena businesses have net zero target Businesses in the Middle East and North Africa (Mena) “lag behind” their global peers in terms of net zero targets, according to a report by the World Economic Forum and US consultancy Bain & Company. WEF evaluated the disclosure and sustainability measures of around 200 publicly listed and private companies across Mena’s nine biggest economies. […] October 20, 2023
Exclusive Sustainability Saudi carbon credit firm to invest in Middle East and Africa Saudi Arabia’s Regional Voluntary Carbon Market Co plans to invest in carbon abatement projects in the Middle East, Africa and Southeast Asia, the CEO of the government-backed startup has told AGBI. Saudi’s Public Investment Fund (PIF) and Saudi Tadawul Group, owner of the kingdom’s stock market, last October launched RVCMC. PIF holds an 80 percent […] October 12, 2023
Finance PIF sells its stake in Saudi-listed LPG retailer for $131m Saudi Arabia’s Public Investment Fund (PIF) has completed the sale of its 10.92 percent stake, or 8.19 million shares, in National Gas and Industrialization Company, a Saudi-listed liquefied petroleum gas (LPG) retailer and distributor. The sale was concluded through a private transaction for SAR491.19 million ($130.95 million), the PIF said in a statement. Jadwa Investment Company […] September 6, 2023
