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National Petrochemical Company 2Q net profit up 118% on improved sales
(The National - 30/07/2018)

Saudi Arabia's National Petrochemical Company said second-quarter net income jumped 118 per cent on higher selling prices and recovering sales volumes.<br/><br/> Net income in the three-month period ending June 30 climbed to 288 million riyals (Dh282m),

Sabic Q2 profits jump 81pc to $1.79bn
(Trade Arabia - 30/07/2018)

Saudi Basic Industries Corp (Sabic), a global petrochemicals giant, reported a net profit of SR6.70 billion ($1.79 billion) for the second quarter of this year, the company said in a bourse statement.<br/><br/> The figure was an 81 per cent increase

Saudi Aramco mulls global bond sale for first time
(Trade Arabia - 29/07/2018)

Saudi Aramco is weighing tapping the international bond market for the first time to finance the acquisition of petrochemical giant Sabic, a move into global capital markets that could offer an alternative to an initial public offering, said a report

Aramco to buy Sabic petrochemical?
(Arab Times - 29/07/2018)

SAUDI ARAMCO last week announced its intention to buy a major share in the Saudi petrochemical company Sabic, which is the fourth largest company in the world with market value close to $100 billion. It has appointed two major American financial

SABIC deal lets Saudi Arabia delay Aramco IPO
(Oman Daily Observer - 26/07/2018)

A proposed reshuffle of state assets would allow Saudi Arabia to delay the listing of national oil giant Aramco until 2020 or beyond while still spending on economic development projects, according to three sources familiar with the matter. Late last

Aramco aims to buy controlling stake in SABIC
(Oman Daily Observer - 24/07/2018)

Saudi Aramco aims to buy a controlling stake in petrochemical maker Saudi Basic Industries Corp (SABIC), possibly taking the entire 70 per cent stake owned by Saudi Arabia’s sovereign wealth fund, two sources familiar with the matter said.<br/><br/> Late

Alba’s net profits surge 65pc in Q2
(Trade Arabia - 24/07/2018)

The net income of Aluminium Bahrain (Alba), the Bahrain-based aluminium smelter, surged 65 per cent in the second quarter of this year to BD29.1 million ($77.4 million), compared to BD17.7 million ($46.9 million) for the same period in 2017.<br/><br/>

Aramco’s potential Sabic deal to affect IPO timing, CEO says
(Gulf News - 22/07/2018)

Saudi Aramco’s potential acquisition of a stake in petrochemicals maker Sabic would affect the time frame of its own planned initial public offering, the firm’s chief executive, Amin Nasser, said in a TV interview.<br/><br/> The offering is the

SABIC represents Saudi private sector at UN sustainable development forum
(Saudi Gazette - 22/07/2018)

SABIC represented the Saudi private sector as part of a national delegation, led by the Ministry of Economy and Planning, to the High-Level Political Forum (HLPF) on Sustainable Development at the UN headquarters in New York last July 9 to 18. The HLPF

Saudi Maaden unit seals new loan amendment deal
(Trade Arabia - 22/07/2018)

Saudi Arabian Mining Company (Maaden) said its subsidiary Maaden Bauxite and Alumina Company (MBAC) has signed an agreement with the Public Investment Fund (PIF) to amend the terms of its existing loan of SR3.75 billion ($1 billion) which has been

Aramco, Korea partner on trade, human resources
(Trade Arabia - 19/07/2018)

Saudi Aramco recently signed an agreement with the Korea Trade-Investment Promotion Agency (Kotra) to collaborate in areas of trade, investment, and human resources (HR).<br/><br/> The memorandum of understanding (MoU) was signed by Ahmad A. Al Sa’adi,

Sipchem launches innovation club in Dhahran
(Trade Arabia - 16/07/2018)

Sipchem has launched its innovation club ‘Sipchem Tech’ in Saudi Arabia with the aim of building the capabilities of the youth in various fields, including artificial intelligence (AI), programming, 3D printing and robotics.<br/><br/> The Sipchem Tech,

Sabic world's fastest-growing chemicals brand
(Trade Arabia - 12/07/2018)

Saudi Arabia’s petrochemicals giant Sabic has grown faster over the past year than any other brand in 2018, jumping from eighth to third rank, according to brand valuation and strategy consultancy Brand Finance.<br/><br/> Contributing to Sabic’s

Saudi Aramco more resilient to oil slump
(Oman Daily Observer - 10/07/2018)

Saudi Aramco is more resilient to oil price slumps than its biggest listed rivals, its 2016 accounts indicate, giving a rare insight into the state energy giant’s finances ahead of a proposed flotation.<br/><br/> The full-year accounts show Aramco’s net

Alba posts record sales, production in Q2
(Trade Arabia - 09/07/2018)

Aluminium Bahrain (Alba) has closed the second quarter of 2018 by achieving the best-ever production and metal sales’ volume.<br/><br/> Production topped 252,081 metric tonnes (mt), up by 23 per cent year-on-year (YoY),while sales volume jumped by 19 per

Saudi Aramco plans first change in Asia crude oil price formula
(Gulf News - 05/07/2018)

Saudi Aramco plans to change the formula used to price its long-term crude oil sales to Asia starting from October, marking the first change in benchmarks for its official selling prices (OSP) since the mid-1980s, multiple trade sources said on

Saudi Sabic working on tightening Clariant ties
(Times of Oman - 01/07/2018)

Saudi Basic Industries Corp (Sabic) is considering increasing its holding in Clariant and pursuing joint ventures as the Saudi firm looks to strengthen ties with the Swiss chemicals group, sources told Reuters.<br/><br/> The world's number four chemical

Saudi Aramco signs deal to make onshore oil rigs, equipment
(Times of Oman - 01/07/2018)

Saudi Aramco signed a deal with National Oilwell Varco Inc. (NOV) to form a joint venture to make onshore rigs and equipment in Saudi Arabia, the state-owned Saudi energy firm said.<br/><br/> Saudi Aramco will own 30 per cent of the venture, while the

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