SABIC's quarterly profit drops 85% on lower sales prices
Saudi Basic Industries Corp , one of the world's biggest petrochemical companies, said on Thursday its second-quarter net profit slumped 85% on lower average sales prices. The company...
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Saudi Basic Industries Corp , one of the world's biggest petrochemical companies, said on Thursday its second-quarter net profit slumped 85% on lower average sales prices. The company...
Saudi Basic Industries Corp (Sabic), a global petrochemical gaint, has reported a 85% plunge in its net profit for Q2 which fell to SR1.2 billion ($315 million) from SR8 billion ($2.1 billion) last year, mainly due to low average sales volume and prices.
A major Indian refiner is shifting its focus to petrochemicals and has shelved plans to expand its refinery capacity.
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