Company Insights Sabic Petrochemicals Sabic News Industry Sabic to sell steel subsidiary to PIF for $3.3bn Saudi Basic Industries Corporation (Sabic) has signed an agreement to sell its 100 percent stake in its steel manufacturing subsidiary to the Public Investment Fund (PIF) for SAR12.5 billion ($3.33 billion). The final sale price for Saudi Iron & Steel Company (Hadeed) will be determined only on the deal closure date, which is expected to […] September 3, 2023 Oil & Gas Aramco in talks with Sinopec to expand Yanbu refinery China’s Sinopec Corp, the world’s largest refiner by capacity, is exploring expanding the Yasref refinery in Yanbu, Saudi Arabia, following a preliminary agreement with Saudi Aramco last December, a company executive told Reuters. The Chinese state-run company’s overseas investments to date include the 400,000 barrels-per-day (bpd) Yasref refinery and the $10 billion Amur Gas Chemical […] September 1, 2023 Industry Petrochemicals producer in $40m blow A major Saudi Arabian petrochemicals company has announced a temporary shutdown at some of its plants which is likely to cost it SAR150 million ($40 million). Yanbu National Petrochemical Company (Yansab) said a “technical upset” forced the shutdown on August 14 and is likely to continue into early September. “The work is in progress to […] August 22, 2023 Analysis Oil & Gas Saudi Arabia and Abu Dhabi bet on crude-to-chemicals Saudi Arabia and Abu Dhabi’s state-run oil companies both want to expand their chemicals production capacity in a strategic shift that will have huge implications for a petrochemicals industry already suffering from its lowest margins in two decades. Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) together provide around almost half of Opec’s crude […] August 18, 2023 Analysis Energy Saudi Arabia’s markets to feel petrochemicals slump Saudi Arabia’s petrochemicals producers reported plunging profits in the second quarter, and are likely to face further struggles due to weak demand, oversupply and high costs. There seems little scope for the industry to rebound until at least 2024, analysts now predict, as a hoped-for turnaround failed to materialise. This gloomy outlook will weigh on […] August 17, 2023 Industry Sabic thermoplastic is key to electric car speed record As it flew around a track at the 2023 Hankook London E-Prix last month, electric race car Genbeta reached nearly 219 kilometres per hour, setting a new Guinness World Record for the fastest speed achieved by a vehicle indoors. Saudi Arabian petrochemicals giant Sabic developed thermoplastic materials to improve the performance of the vehicle – […] August 9, 2023 Manufacturing Sabic profit slumps 85% as recovery slows Saudi Basic Industries Corp (Sabic), one of the world’s largest petrochemical companies, has reported an 85 percent slump in net profit to SAR 1.8 billion ($480 million) during the first half of this year. Sabic’s shares have fallen 4.6 percent since January, and remained mostly flat after the results were released. Experts said a recovery […] August 3, 2023 Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023 Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023 Analysis Energy Saudi petrochemical giants braced for hike in gas costs Saudi Arabia’s petrochemicals companies, whose margins have tumbled this year, could be hit by higher prices for gas feedstocks if reforms to state subsidies materialise. The petrochemicals industry is the kingdom’s most important after oil and chemicals manufacturing is a key part of the Vision 2030 economic diversification plan. Yet some producers suffered losses in […] May 26, 2023 Posts navigation Previous 1 … 5 6 7 8 Next
Industry Sabic to sell steel subsidiary to PIF for $3.3bn Saudi Basic Industries Corporation (Sabic) has signed an agreement to sell its 100 percent stake in its steel manufacturing subsidiary to the Public Investment Fund (PIF) for SAR12.5 billion ($3.33 billion). The final sale price for Saudi Iron & Steel Company (Hadeed) will be determined only on the deal closure date, which is expected to […] September 3, 2023
Oil & Gas Aramco in talks with Sinopec to expand Yanbu refinery China’s Sinopec Corp, the world’s largest refiner by capacity, is exploring expanding the Yasref refinery in Yanbu, Saudi Arabia, following a preliminary agreement with Saudi Aramco last December, a company executive told Reuters. The Chinese state-run company’s overseas investments to date include the 400,000 barrels-per-day (bpd) Yasref refinery and the $10 billion Amur Gas Chemical […] September 1, 2023
Industry Petrochemicals producer in $40m blow A major Saudi Arabian petrochemicals company has announced a temporary shutdown at some of its plants which is likely to cost it SAR150 million ($40 million). Yanbu National Petrochemical Company (Yansab) said a “technical upset” forced the shutdown on August 14 and is likely to continue into early September. “The work is in progress to […] August 22, 2023
Analysis Oil & Gas Saudi Arabia and Abu Dhabi bet on crude-to-chemicals Saudi Arabia and Abu Dhabi’s state-run oil companies both want to expand their chemicals production capacity in a strategic shift that will have huge implications for a petrochemicals industry already suffering from its lowest margins in two decades. Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) together provide around almost half of Opec’s crude […] August 18, 2023
Analysis Energy Saudi Arabia’s markets to feel petrochemicals slump Saudi Arabia’s petrochemicals producers reported plunging profits in the second quarter, and are likely to face further struggles due to weak demand, oversupply and high costs. There seems little scope for the industry to rebound until at least 2024, analysts now predict, as a hoped-for turnaround failed to materialise. This gloomy outlook will weigh on […] August 17, 2023
Industry Sabic thermoplastic is key to electric car speed record As it flew around a track at the 2023 Hankook London E-Prix last month, electric race car Genbeta reached nearly 219 kilometres per hour, setting a new Guinness World Record for the fastest speed achieved by a vehicle indoors. Saudi Arabian petrochemicals giant Sabic developed thermoplastic materials to improve the performance of the vehicle – […] August 9, 2023
Manufacturing Sabic profit slumps 85% as recovery slows Saudi Basic Industries Corp (Sabic), one of the world’s largest petrochemical companies, has reported an 85 percent slump in net profit to SAR 1.8 billion ($480 million) during the first half of this year. Sabic’s shares have fallen 4.6 percent since January, and remained mostly flat after the results were released. Experts said a recovery […] August 3, 2023
Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023
Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023
Analysis Energy Saudi petrochemical giants braced for hike in gas costs Saudi Arabia’s petrochemicals companies, whose margins have tumbled this year, could be hit by higher prices for gas feedstocks if reforms to state subsidies materialise. The petrochemicals industry is the kingdom’s most important after oil and chemicals manufacturing is a key part of the Vision 2030 economic diversification plan. Yet some producers suffered losses in […] May 26, 2023
