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GCC exports over 80pc of petchem productionThe Gulf countries export more than 80 per cent of their petrochemical production including ethylene glycol, styrene monomer and paraxylene to overseas markets, said a senior industry expert. “These exports have included ove More… |
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Saudi stocks surge to four-week highSaudi stocks surged to a four-week high helped by gains in petrochemicals stocks with the kingdom's benchmark all-share index closing up 0.2 per cent at 7,220.42 points, its highest level since April 13. The banking index clos More… |
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Qurain Petrochemical Q1 profit surges 52pcKuwait-based Qurain Petrochemical Industries Company (QPIC) has recorded a 52 per cent jump in its net profit for the first quarter which soared to KD22.61 million ($79.3 million) from KD14.85 million last year. This represented an in More… |
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Saudi ends high on petchem, bank stocksThe Saudi all-share index closed up 0.54 per cent to 7214.06 points as petrochemicals and banking shares posted some gains on Saturday. King Abdullah had earlier ordered compensation to be paid for damage caused by extensive flood More… |
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Equate sees Kuwait sales soar to $45mEquate Petrochemical Company, a major player in the petrochemical sector based in Kuwait, said its annual sales to local Kuwaiti plastic manufacturers for 2012 increased by over 300 per cent thus netting orders worth $45 million. More… |
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Saudi Sipchem Q1 net profit plunges 58pcSaudi International Petrochemical Company (Sipchem) posted a 57.5 per cent fall in first-quarter net profit on Sunday, citing shutdowns at a number of plants during the period for the decline in earnings. The firm reported a net p More… |
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Sabic approves $3.9bn cash dividendsGlobal petrocemical giant Saudi Basic Industries Corporation (Sabic) said it will distribute dividends worth SR15 billion ($3.9 billion) to shareholders at SR5 per share for the group's operations in 2012. The announcement was More… |
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Saudi Yansab Q1 net profit down 7.4pcSaudi Yanbu National Petrochemical (Yansab) posted a 7.4 per cent drop to SR667.07 million ($177.88 million) in net profit for the first quarter on Saturday, beating analysts' expectations of SR577.46 million. Yansab, an affil More… |
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Gulf petchem investments to top $250bnThe total investments in the petrochemical sector in the Gulf region will balloon to more than $250 billion by 2015, said an expert while speaking at a major industry event in Dubai. The 4th International Conference for Plastics C More… |
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Saudi opens lower in early tradeSaudi stocks opened lower in early trade on Saturday as the all-share index dropped 0.3 per cent to 7157.19 points. Al Rajhi Bank, the kingdom's largest listed lender, dropped 0.38 percent. Saudi Basic Industries Corp (Sabic), More… |
