Wednesday 23 April 2014
 
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petrochemical

Yansab Q1 net profit drops 16.7pc

Saudi Arabia's Yanbu National Petrochemical Co (Yansab) missed the average forecast of analysts as it posted a 16.7 percent decline in first-quarter net profit on Monday, citing lower prices for some of its products. The firm,

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Safco Q1 profit drops 9.6pc

Saudi Arabia Fertilizers Company reported a 9.6 percent drop in first-quarter net profit on Sunday, as prices for its products fell, but the earnings still beat analyst estimates. The company, a unit of Saudi Basic Industries Corp

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Sipchem Q1 net profit rises 6.5pc

Saudi International Petrochemical Co (Sipchem) missed analysts' forecasts by a wide margin on Thursday after unplanned shutdowns limited its first-quarter net profit increase to 6.5 percent. Sipchem made a profit of 68.7 milli

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Demand to drive petchem sector growth

An improvement in demand for petrochemicals and enhanced operational performance will be the key drivers for the sector growth in 2014, said a report. “However, year to date volatility in global demand and ongoing efficiency

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Aramco plant sees full production by mid-2014

The joint venture 400,000-barrels-per-day Jubail refinery in Saudi Arabia will reach full production capacity by around mid-2014, Total said in a financial filing. Saudi Aramco Total Refining and Petrochemical Company's refine

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New Saudi industrial firm to set up 20 projects

Twenty new industrial projects worth SR7.45 billion ($1.99 billion) will be set up by the newly established Saudi Arabian Industrial Development Company in the next five years, Saudi Finance Minister Ibrahim Al-Assaf was quoted as saying.

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Italy firm wins Egypt’s $1bn petchem deal

Italy's Maire Tecnimont won a deal to develop facilities for a petrochemical complex at the entry of the Suez Canal in Egypt worth almost $1 billion, helping the engineering company expand its business in North Africa. The com

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GPIC signs MoUs with Pakistan firms

Bahrain's Gulf Petrochemical Industries Company (GPIC) has signed memoranda of understanding (MoUs) with Pakistani firms, the Fatima Group and Fauji Fertilizer, during a business forum in Islamabad, a report said. The forum wa

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Oman out of Iran's petchem project

The National Iranian Petrochemical Company has cancelled a deal with Oman Oil Company to build the Hormoz urea and ammonia production unit, said a report.   The project in Assalouyeh, Southern Iran, has been tran

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Qatar LPG exports will stay unchanged till 2018

Qatar is expected to export around 10 to 11 million tonnes per year of liquefied petroleum gas (LPG) between 2014 and 2017 before domestic petrochemical consumption reduces exports in 2018, state marketer Tasweeq said on Thursday.

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