Saudi International Petrochemical Co (Sipchem) beat analysts' forecasts with rises in profit margins and sales on Sunday as second-quarter net profit jumped 41 per cent.
Sipchem made a profit of 244.6 million riyals ($65.3 mil
Saudi International Petrochemical Co (Sipchem) said its performance and growth plans remain on track despite the recent decision to end merger talks with Sahara Petrochemical.
The duo said on Sunday they had decided to postpone me
Oil giant Saudi Aramco said its downstream investments would exceed $100 billion over the next decade, as global demand for oil rises by a quarter in the next 25 years.
"Globally, these investments will exceed $100 billion ov
State-owned Oman Oil Refineries and Petroleum Industries Co (Orpic) said it had awarded two contracts for construction of a $3.6 billion plastics production complex, the Liwa Plastics Project.
Engineers India of New Delhi will ope
Saudi Basic Industries Corp (Sabic), one of the world's largest petrochemical groups and the Gulf's biggest listed firm, reported a 5.7 per cent rise in fourth-quarter net income, missing analysts' forecasts.
Saudi shares ended higher on Saturday, lifted by gains in the petrochemical and banking sectors. The all-share added one per cent to hit 7,010 points and the petrochemical index added 0.7 per cent to 6,090 points.
Saudi Basic Indu
Saudi stocks closed slightly higher on Saturday after the government announced a 2013 state budget which analysts said was likely to support continued strong economic growth next year.
The market declined early on in response to a
Saudi shares closed flat on Saturday at 6,888 points as gains in banking stocks were offset by losses in the petrochemical index.
The banking index ended 0.1 per cent higher at 15,153 points and the petrochemical index ended 0.2 p
Saudi stocks closed lower on Saturday, dragged down by losses in petrochemical and banking sectors. The all-share ended 0.9 percent lower at 6,774 points.
The petrochemical index ended 0.8 per cent lower at 5,964 points. Petrochemical gian