Petrochemicals Borouge net profit increases to $281m for first quarter UAE petrochemical company Borouge reported a rise in profit for the first quarter, driven by higher production and revenue. Net profit for the three months to March rose to $281 million, on the back of an increase in sales volumes and cost reduction, the company said in a statement. Production volumes rose 7 percent year […] April 30, 2025
Petrochemicals UAE’s Borouge to expand its production capacity UAE petrochemical company Borouge, a specialist in polyethylene and polypropylene, has unveiled expansion plans to increase annual production capacity to more than 6.6 million tonnes by 2028. The expansion is expected to contribute $165-$200 million in earnings before interest, tax and depreciation, the company said in a statement. Borouge, backed by Abu Dhabi National Oil […] April 29, 2025
Petrochemicals China’s Sinopec in $4bn joint venture with Saudi Aramco China’s state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company with a registered capital of 28.80 billion yuan ($3.95 billion). The agreement was signed by Sinopec, its unit Fujian Petroleum Chemical Industry Co, and Saudi Aramco’s Singaporean unit Aramco Asia Singapore. Sinopec and its unit […] April 29, 2025
Petrochemicals China to build new industrial city in Iraq China will build an industrial city in the Karbala governorate to develop Iraq’s petrochemical sector, the official Iraq News Agency reported. Sepco Electric Power Construction Corporation, a subsidiary of state-run PowerChina, signed an agreement with Iraq’s ministry of industry and minerals to build four petrochemical plants within the Karbala Industrial City, according to Iraqi News, […] April 21, 2025
Petrochemicals Borouge hikes dividend despite economic turmoil Emirati petrochemicals company Borouge will launch a share buyback programme and increase its dividend payout as it pushes ahead with global expansion, despite mounting trade tensions and sluggish demand. Shareholders at the company’s annual general meeting on Monday approved a final dividend of $650 million for 2024, bringing the full-year total to $1.3 billion, or […] April 8, 2025
Oil & Gas Profits at Oman-listed OQBI surged in 2024 Oman’s state-controlled OQ Base Industries (OQBI) has reported that net profits for 2024 increased by 38 percent to $81 million, up from $25 million a year earlier. OQBI, which produces methanol, ammonia and liquefied petroleum gas (LPG), is the downstream arm of state-owned OQ. It started trading on the Muscat Security Market (MSM) on December […] April 2, 2025
