GulfBase Live Support
23/03/2016 11:13 AST
Oil markets may be about to reach some stability after a torrid run that pushed prices to their lowest level in over a decade, the vice chairman and acting chief executive of Saudi petrochemicals giant, SABIC said Wednesday.
Yousef Al-Benyan told CNBC on the sidelines of the Boao Forum for Asia that while this year and 2017 will be challenging for the industry, the outlook for 2018 and beyond is optimistic.
"Of course, prices are not really at levels where we wish (them to be) but that's normal in a cyclical market," Al-Benyan said, adding that he expects crude oil at $60 a barrel by the end of 2016.
"A lot of people think that when crude oil price is up, it gives you much better returns on investment...(but) stability is very important not only for us as a producer but also for the customer and that's our main focus at this point."
Both U.S. WTI and European Brent crude oil prices are about 1 percent lower above $41 a barrel in Asian hours after Tuesday's deadly attacks in Brussels but are still higher than the 13-year-lows hit earlier this year.
"(Prices are) driven by global markets, not manipulated by one group, it's a supply and demand situation," he told CNBC from Hainan island in China.
For more on this Click Here
CNBC
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
09/03/2018
Saudi Arabia will firmly support the UK as it embarks on Brexit, the chief of chemicals giant Sabic said on Thursday. Speaking at a gathering of CEO’s from both countries in London, Sabic CEO Yousef
Arab News
30/01/2018
Sabic has posted a net profit of SR3.67 billion ($977 million) for the fourth quarter of 2017 compared to SR4.51 billion for the same quarter in 2016, reflecting a decrease of 18.63 per cent.
Trade Arabia
Ticker | Price | Volume |
---|---|---|
RIBL | 13.83 | 1,519,548 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News