Page 46 - Saudi Basic Industries News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Synopsis Reliance Industries Ltd., owner of the world’s biggest oil refinery, has been dancing the quadrille with Saudi Aramco for nearly two years. At current prices, 1% of Aramco would be worth about $19 billion — not far off the $15 billion price tag put on 20% of Reliance’s energy division, at the time the Saudi company first took an interest in buying a stake in 2019. Reuters Amin H. Nasser, president and CEO of Saudi Aramco. Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Mohammed Bin Salman seems...

Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Mohammed Bin Salman seems to think so. “There are discussions happening right now about a 1% acquisition by one of the leading energy companies in the world” in state-owned Saudi Arabian Oil Co., he said in a local television interview Tuesday. Prince Mohammed didn’t disclose which company might make the investment, but you don’t have to be a Jane Austen protagonist to work out the most likely partner. Reliance Industries Ltd., owner of the world’s...

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Saudi market underperformed after banking and petrochemical stocks came under selling pressure, snapping five days of gains, while in Dubai, ex-dividend was a factor behind the slipping into the red. The Saudi benchmark index tripped up by 1.1 per cent to 10,419 points. Al Rajhi Bank, Saudi National Bank and Riyad Bank headed lower with Saudi Aramco joining in the downside by shedding 1.1 per cent. The petrochemicals giant Saudi Basic Industries (Sabic) retreated 3 per cent despite reporting SR4.86 billion in first-quarter profits, a rebound from year-ago losses amounting to SR1.05 billio...

Chemicals maker Sabic’s profit surges as economies reopen 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP Revenue rose 24 per cent year-on-year to SAR37.5bn and 14 per cent from the previous quarter April 29, 2021 Chemicals maker Saudi Basic Industries Corp.’s profit jumped as the reopening of the global economy led to higher demand for its products used in everything from packaging to buildings and agriculture. Net income was SAR4.86bn ($1.3bn) in the first quarter, more than double the level of the prev...