SABIC

SABIC

Key Contacts

PRODUCT & SERVICES

Sabic, DuPont collaborate to enhance EHS performance

May 4, 2017

Saudi Basic Industries Corp (Sabic) is collaborating with DuPont Sustainable Solutions (DSS) to accelerate progress towards becoming a world leader in environment health and safety (EHS) performance. ... View more

Sabic profit jumps 80pc in Q1

May 2, 2017

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemical producers reported a net profit of SR5.2 billion ( 1.4 billion) for the first quarter of this year an 80 per cent jump from... View more

Sabic profit jumps 80pc in Q1

May 2, 2017

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemical producers reported a net profit of SR5.2 billion ( 1.4 billion) for the first quarter of this year an 80 per cent jump from... View more

Sabic, Exxon select site for US joint venture

April 20, 2017

Sabic and ExxonMobil Chemical Company have announced the selection of a site in San Patricio County Texas for potential development of a jointly-owned petrochemical complex currently under study on th... View more

Sabic, Exxon select site for US petchem JV

April 20, 2017

Sabic and ExxonMobil Chemical Company have announced the selection of a site in San Patricio County Texas for potential development of a jointly-owned petrochemical complex currently under study on th... View more

Sabic 2016 profit down 4.58pc to $4.77bn

January 22, 2017

Saudi Basic Industries Corp (Sabic) a leading petrochemicals groups reported a net profit of SR17.91 billion ( 4.77 billion) for 2016 compared to SR18.77 billion ( 5 billion) for 2015 a decrease of 4.... View more

Sabic 2016 profit down 4.58pc to $4.77bn

January 22, 2017

Saudi Basic Industries Corp (Sabic) a leading petrochemicals groups reported a net profit of SR17.91 billion ( 4.77 billion) for 2016 compared to SR18.77 billion ( 5 billion) for 2015 a decrease of 4.... View more

Sabic launches dedicated foam grade for MEA

January 17, 2017

Leading petrochemicals producer Saudi Basic Industries Corporation (Sabic) has launched a new dedicated foam grade - LDPE HP0824NDF - for Middle East and Africa (MEA) and Asian markets to broaden the ... View more

Sabic PP pilot plant to open next year

November 28, 2016

Saudi Arabia Basic Industries Corporation (Sabic) will have a new pilot plant for development of next-generation polypropylenes (PP) on-stream in Sittard-Geleen the Netherlands by the end of March nex... View more

Aramco, Sabic in OTC study pact

November 28, 2016

Collaboration between the two could become a powerful driver of the kingdom s strategic petrochemicals sector that would further Riyadh s broader economic goals State-owned Saudi Aramco and Saudi Basi... View more

Exxon-Sabic plan to bolster shale gas

November 28, 2016

The plant will have access to the vast network of gas pipelines and the primary NGL pipeline that crosses the Gulf Coast and connect to multiple gas-producing basins The long-term viability of US shal... View more

Sabic expands its portfolio

November 14, 2016

Sabic regards polymer foam technologies as essential to meet growing needs for improvements in sustainability and efficiencies along global production and supply chains. They offer material and energy... View more

Sabic scouts for new ventures

October 31, 2016

The petrochemicals giant wants to cut its dependence on domestic Saudi Arabian natural gas which has become pricier since December Petrochemicals giant Sabic is scouting for more overseas ventures to ... View more

Sabic foam reduces degassing

October 24, 2016

The first product of a new generation of LDPE foam grades from Sabic has been designed to increase production efficiency at the foam manufacturer. The new Sabic LDPE fast converting foam grades reduce... View more

Sabic to merge, spin off units as net falls

October 24, 2016

Saudi Basic Industries Corp (Sabic) has combined its chemicals and polymers businesses and will spin off its steel unit as part of its restructuring efforts to counter the depressed oil market and wea... View more

Sabic, ExxonMobil eyeing USGC sites for projects

September 26, 2016

The companies are considering locations in San Patricio and Victoria counties near Corpus Christi Texas as well as St. James and Ascension parishes in Louisiana near Plaquemine. Both have worked toget... View more

Sabic posts 23.2pc drop in Q2 net profit

July 26, 2016

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups reported a 23.2 per cent drop in second-quarter net profit extending an earnings slump as lower sales prices contin... View more

Sabic mulls petchem JV with Exxon affiliate

July 26, 2016

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups said it is studying launching a jointly-owned petrochemicals complex with an affiliate of US ExxonMobil. The projec... View more

Aramco and Sabic in groundbreaking deal

July 4, 2016

State oil giant Saudi Aramco and Saudi Basic Industries Corp (Sabic) expect a feasibility study to build their first joint project in the kingdom to be completed early next year the heads of the two c... View more

Sabic makes its impact

June 27, 2016

The major s plants at Jubail and Yanbu are raising capacity or diversifying their output streams Sabic has a number of projects planned or under way in Jubail and Yanbu. A 2 billion elastomer project ... View more

Sabic signs petchem project with Shenhua

June 6, 2016

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups said it had signed an agreement with Shenhua Ningxia Coal Industry Group to build a petrochemical complex in China.... View more

Sabic eyes US shale gas for petchem unit

May 9, 2016

Saudi Basic Industries Corporation (Sabic) is targeting North America for the shale gas needed to fuel growth at one of the world s largest petrochemicals groups its chief financial officer said. The ... View more

Sabic invests in FRT business

April 4, 2016

Saudi Arabia Basic Industries Corporation (Sabic) one of the world s leading petrochemical companies has expanded its growing portfolio of innovative material solutions with the recent investment in a... View more

Sabic counts on cost cutting

March 28, 2016

Cost-cutting would help Sabic offset the increase in chemical feedstock prices after the Saudi government cut subsidies at the end of last year Saudi Basic Industries Corp (Sabic) is counting on lower... View more

Sabic certified as ‘Top Employer Europe 2016’

March 28, 2016

The certification follows a rigorous process including an audit by Grant Thornton that comprehensively evaluates the participating company s HR processes and practices against the highest standards am... View more

Sabic powers Elopak product

March 14, 2016

With the demand for energy and natural feedstock usage continually increasing in the world there is a growing need for sustainable products made from renewable materials. Global packaging enterprise E... View more

Sabic Lexan lights up centre

February 22, 2016

Saudi Basic Industries Corporation (Sabic) has supported the award-winning project El Batel state-of-the-art building in Cartagena Spain through the development of a polycarbonate material with specia... View more

Sabic can ‘cope with more competition’

January 25, 2016

Saudi Basic Industries Corp (Sabic) can adapt to any new petrochemicals supply entering the market from outside the kingdom its acting chief executive said as Iran s release from sanctions promises in... View more

Sabic leaving One Plastics Avenue

November 30, 2015

Sabic IP s commodity products will be placed in the parent firm s Chemicals and Polymers unit. Remaining Sabic IP products will be in a new specialities unit By the middle of next year there won t be ... View more

3M links with Sabic Home of Innovation

November 30, 2015

Through the initiative Sabic engaged companies that demonstrated an interest in growing their business in the kingdom and Middle East region Through its Home of Innovation growth initiative Sabic has ... View more

Sabic touts more discreet drug delivery devices

November 30, 2015

Sabic is helping its customers adapt to its new Cycoloy HCX1640 resin which can enable manufacturers to design robust light and attractive drug delivery devices that meet standard healthcare regulatio... View more

Sabic unveils world’s first 3D-printed vehicle at show

November 30, 2015

The petrochemical major s LNP STAT-KON carbon fibre-reinforced compound was chosen for its excellent strength-to-weight ratio and high stiffness which minimises warping during the 3D printing process ... View more

Sabic Q3 profit falls by 9.4pc

October 26, 2015

The company reported declining profits for a fifth straight quarter although cost cutting helped its earnings beat analyst estimates Saudi Basic Industries Corp (Sabic) one of the world s largest petr... View more

Sabic sees decision on $30bn OTC plant in Q2

October 12, 2015

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups expects to make a decision in the second quarter of 2016 on whether to go ahead with a 30 billion oil-to-chemicals ... View more

Sabic Q2 profit falls but beats forecasts

August 3, 2015

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups reported a drop in second-quarter net profit but beat analysts forecasts by a large margin suggesting it was coping... View more

Sabic keeps investing despite Q1 profit slide

April 27, 2015

Saudi Basic Industries Corp (Sabic) faces heavy pressure on its profits due to cheap oil but will keep investing globally to boost capacity in key areas its acting chief executive said after the compa... View more

Sabic retains expansion plans

March 29, 2015

Sabic plans to launch this year the 3.4 billion Al Jubail Petrochemical Company (Kemya) a joint venture between Sabic and the US energy company ExxonMobil Saudi Basic Industries Corp (Sabic) one of th... View more

Al Benyan named Sabic acting CEO

February 19, 2015

Saudi Basic Industries Corp (Sabic) said it has named Yousef Abdullah Al Benyan as its acting chief executive officer (CEO) replacing outgoing head Mohamed Al Mady. A Sabic official said Benyan s appo... View more

Oil slump slashes Sabic Q4 profit 29pc

January 21, 2015

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups reported a 29 per cent plunge in fourth-quarter net income widely missing analysts forecasts because of the tumble ... View more

Sabic research unit sets high standards

November 20, 2014

SAUDI Basic Industries Corporation (Sabic) is to have one of the highest patent numbers per researcher among major chemical companies according to a top official. We have six researchers for each pate... View more

Sabic and Kringlan launching a first

November 20, 2014

SABIC Kringlan Composites and other industry partners are working to further advance the development of the world s first thermoplastic composite wheel. This ground breaking innovation leverages Sabic... View more

Xiaomi selects 3 Sabic materials

November 20, 2014

SABIC S Innovative Plastics business enabled mobile internet company Xiaomi to develop its Mi3 smartphone that addresses growing consumer requirements such as thinner more durable walls and an antenna... View more

Sabic plans to lift steel capacity

November 20, 2014

SAUDI Iron and Steel Co (Hadeed) the metals affiliate of Saudi Basic Industries Corp (Sabic) plans to add 4 million tonnes of annual steel output capacity to reach 10 million tonnes by 2025 an executi... View more

Sabic to broaden supply of LGFPP

November 20, 2014

SABIC S Innovative Plastics business has announced that it is proceeding with an investment in a production line for Stamax long glass fibre-reinforced polypropylene (LGFPP) at its manufacturing site ... View more

Sabic net falls 4.5pc, misses estimates

November 2, 2014

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups and the Gulf s largest listed company reported a 4.5 per cent drop in third-quarter net income missing analysts for... View more

Sabic, Aramco square off

September 16, 2014

IN THE midst of the US shale gas boom that has raised hopes of an era of cheaper gas feedstock worldwide Saudi Arabia is somewhat surprisingly pushing ahead with plans to build a petrochemicals plant ... View more

Sabic Q2 profit rises 7pc on higher prices

July 23, 2014

Saudi Basic Industries Corp (Sabic) one of the world s largest petrochemicals groups and the Gulf s largest listed company reported a 7 per cent increase in second-quarter net income matching analysts... View more

Sabic signs $595m JV with Korean firm SK

June 2, 2014

The agreement was signed by Mohamed Al Mady Sabic vice chairman and CEO and Ja-Young Koo SK Innovation vice chairman and CEO and is subject to regulatory approval. The JV which is located in Singapore... View more

Sabic showcases leading technologies

May 11, 2014

Sabic showcased a broad and relevant portfolio of materials technology applications and solutions at Chinaplas 2014 which was held in Shanghai underscoring the company s deep understanding of the late... View more

Gas shortage limiting growth: Sabic CEO

April 23, 2014

Sabic the biggest listed company in the Gulf and one of the world s largest petrochemical firms said net profit slipped 1.8 per cent from a year earlier to SR6.44 billion ( 1.72 billion) in the first ... View more

Sabic – Mitsubishi Rayon – Alpha 2

April 17, 2014

Name of client : Sabic Saudi Basic Industries Corporation Lucite International MRC Mitsubishi Rayon Company Budget : 500 million Facility type : Dimethyl Ether (DME) Sector : Petrochemicals Status : E... View more

Sabic to pay $2.3bn in cash dividend for H2

April 17, 2014

Saudi Basic Industries Corp (Sabic) has approved its board s recommendation to distribute SR9 billion ( 2.3 billion) in cash dividends at SR3 per share for the second half of last year. Shareholders r... View more

Sabic keeps focus on innovations

March 27, 2014

THE Saudi Arabian Basic Industries Corporation (Sabic) has opened a new state-of-the-art facility under the patronage of Prince Khaled Bin Bandar Al-Saud Governor of Riyadh. The Sabic Plastics Applica... View more

Sabic may invest in shale development

March 27, 2014

SAUDI Basic Industries Corporation (Sabic) expects to follow the US and several other states into the shale market this year to firm up its presence in the global hydrocarbon field. The company also p... View more

Sabic – Mitsubishi Rayon – Alpha 2

February 23, 2014

Name of client: Sabic Saudi Basic Industries Corporation Lucite International MRC Mitsubishi Rayon Company Budget: 500 million Facility type: Dimethyl Ether (DME) Sector: Petrochemicals Status: EPC IT... View more

Sabic, Mitsubishi Rayon – Petchem Plants

February 2, 2014

Name of client: Saudi Basic Industries Corporation (Sabic) Lucite International Mitsubishi Rayon Company (MRC) Budget : 500 million Facility type : Dimethyl Ether (DME) Sector : Petrochemicals Status ... View more

Sabic – Mitsubishi Rayon – Alpha 2 – Petrochemical Plants

January 19, 2014

Name of client : Sabic Saudi Basic Industries Corporation Lucite International MRC Mitsubishi Rayon Company Budget : 500 million Facility type : Dimethyl Ether (DME) Sector : Petrochemicals Status : E... View more

Sabic unveils multi-layer film

December 11, 2013

DESIGNED specifically to meet the packaging industry s growing demand for high quality collation shrink films for the beverage market Sabic has optimised its existing multi-layer film concept supporti... View more

Sabic – Mitsubishi Rayon – Alpha 2 – Petrochemical Plants

December 5, 2013

Name of client : Sabic Saudi Basic Industries Corporation Lucite International MRC Mitsubishi Rayon Company Budget : 500 million Facility type : Dimethyl Ether (DME) Sector : Petrochemicals Status : E... View more

Sabic expansion set to continue

November 21, 2013

SAUDI Arabia is committed to produce 10 per cent of the world s petrochemicals by 2015. The industry benefits from a gas feedstock price of 0.75/mmBTUs (million British thermal units) which however co... View more

Ma’aden, Mosaic, Sabic sign deal

November 21, 2013

THE Saudi Arabian Mining Company (Ma aden) has signed a shareholders agreement to jointly develop a fully integrated world-class phosphate production facility in Saudi Arabia with partners The Mosaic ... View more

Outlook improving as Q3 profits rise: Sabic

November 3, 2013

Higher sales helped Saudi Basic Industries Corp (Sabic) post a rise in third-quarter net profit in line with analyst forecasts as the chief executive officer said the outlook for next year was improvi... View more

Ma’aden, Sabic to own 75pc of phosphate JV<!--Top1-->

August 7, 2013

Saudi Arabian Mining Company (Ma aden) and Saudi Basic Industries Corporation (Sabic) will own 60 and 15 per cent of a new phosphate production joint venture in Saudi Arabia respectively. The remainin... View more

Weak demand in China, Europe hits Sabic sales

July 24, 2013

Saudi Basic Industries Corp (Sabic) the world s biggest petrochemicals group by market value posted second-quarter profit below analysts forecasts with sales hit by weak demand in China and Europe. Sa... View more

Sabic playing a decisive hand

June 23, 2013

IRRESPECTIVE of what the global economic conditions may be the manufacturing sector remains a key part of any national economy; and Sabic as a world-leading manufacturer is a strategic enabler of grow... View more

Sabic okays $3.9bn cash dividends

April 21, 2013

Global petrochemical giant Saudi Basic Industries Corporation (Sabic) said it will distribute dividends worth SR15 billion ( 3.9 billion) to shareholders at SR5 per share for the group s operations in... View more

Mosaic signs $7bn JV with Maaden, Sabic

March 24, 2013

US fertiliser major Mosaic plans to develop a 7 billion phosphate fertiliser project in Saudi Arabia in a joint venture with local partners it said. Mosaic said it entered into a Heads of Agreement wi... View more

Aramco, Sabic win global accolades

March 24, 2013

OUT of six companies from the Middle East included in the Boston Consulting Group s (BCG) list of 100 Global Challengers from emerging markets that are tipped to reshape industries around the world in... View more

Sabic Q4 net profit rises 11pc to $1.55bn

January 23, 2013

Saudi Basic Industries Corporation (Sabic) the world s biggest petrochemicals group by market value posted an 11.3 per cent rise in fourth quarter net profits but missed analyst forecasts. Sabic said ... View more

Sabic – Shell – Sadaf Polyurethane Plant

December 26, 2012

Name of client : Sabic Saudi Basic Industries Corporation Royal Dutch Shell Saudi Arabia Estimated budget : 300 million Facility type : Styrene Sector : Petrochemicals Status : Feasibility study Locat... View more

Sabic – Shell – Sadaf Polyurethane Plant

December 9, 2012

Name of client : Sabic Saudi Basic Industries Corporation Royal Dutch Shell Saudi Arabia Estimated budget : 300 million Facility type : Styrene Sector : Petrochemicals Status : Feasibility study Locat... View more

Sabic affirms commitment to sustainability

December 2, 2012

Saudi Basic Industries Corporation (Sabic) released its first Sustainability Report entitled Sustainability Performance. The report covering sustainability performance in 2011 will be published annual... View more

Frost & Sullivan commends Sabic

November 22, 2012

Frost & Sullivan has presented Sabic with the 2012 European Frost & Sullivan Award for Customer Value Enhancement based on its recent research on the plastics used in water infrastructure in which pre... View more

Sabic, one of the top R&D spenders

November 22, 2012

After growing almost 10 per cent for the second consecutive year total R&D investment among the world s top innovation spenders continues to grow robustly according to the 2012 Global Innovation 1000 ... View more

Sabic wins green material award

November 22, 2012

Sabic s Innovative Plastics business has been honoured with Plastics Technology s (China) Green Material Innovative Application Award in recognition of the company s pioneering Valox iQ resin an indus... View more

Sabic, Shell plan Sadaf expansion

November 22, 2012

Saudi Basic Industries Corporation (Sabic) and Shell have announced that they are progressing plans for the expansion of various projects at the Saudi Petrochemical Company (Sadaf). The joint venture ... View more

Sabic offers Ultem resin

October 21, 2012

SABIC S Innovative Plastics business has announced that its strong lightweight flame-retardant Ultem 9085 resin now helps to address one of the biggest challenges for aerospace OEMs the ability to pro... View more

Global giant Sabic holds a competitive edge

September 20, 2012

A SHARP decline in Saudi Basic Industries Corp (Sabic) second-quarter profits (it reported a 35-per cent drop due to lower prices and production) may have been a dampener for the global petrochemicals... View more

Sabic Q2 net falls 35pc on low prices, output

July 29, 2012

Saudi Basic Industries Corp (Sabic) the world s biggest petrochemicals group by market value reported a 35-per cent drop in quarterly profits due to lower prices and production missing analysts estima... View more

Sabic and Exxon progress on JV

June 25, 2012

SAUDI Basic Industries Corp (Sabic) and affiliates of ExxonMobil Chemical Co have awarded front-end engineering design contracts (Feed) for a planned new elastomers project in Saudi Arabia. The Al Jub... View more

Sabic UK&#8200;adopts Cordex camera

June 3, 2012

ENGINEERS at Sabic UK Petrochemicals have improved equipment monitoring in hazardous areas with the help of the next generation of Atex explosion proof digital cameras.CorDex Instruments ToughPix 2303... View more

Sinopec petchem JV to cost $1.7bn: Sabic

April 9, 2012

Saudi Basic Industries Corporation (Sabic) the Middle East s largest listed company has said its joint venture with China Petrochemical and Chemical Corp (Sinopec) to build a new polycarbonate plant a... View more

Sabic predicts good year for industry

March 26, 2012

SAUDI Basic Industries Corp (Sabic) says it had an excellent 2011 and forecasts further strength for the petrochemical sector next year its chief executive says. The whole year has been excellent. We ... View more

Sabic Q4 net profit drops 10pc to $1.4bn

January 19, 2012

Saudi Basic Industries Corp (Sabic) reported a 10-per cent drop in quarterly profits missing forecasts as the petrochemical giant felt the impact of lower prices globally. Sabic made a net profit of S... View more

ExxonMobil, Sabic progress on JV

November 27, 2011

Saudi Basic Industries Corp (Sabic) and affiliates of ExxonMobil Chemical Co have awarded front-end engineering design contracts (Feed) for a planned new elastomers project in Saudi Arabia. The Al-Jub... View more

Sabic plans to take stake in Inpro JV

November 27, 2011

Saudi Basic Industries Corporation (Sabic) has announced that it has entered into an agreement to purchase an equity stake in Inpro a joint venture dedicated to collaborative innovation in automotive ... View more

Sabic-Maaden phosphate JV starts initial production

November 27, 2011

Saudi Arabian Mining Co (Maaden) says its phosphate joint venture with Saudi Basic Industries Corp (Sabic) has started initial production. Maaden announces that Maaden Phosphate Company (MPC) has star... View more

Sabic signs four deals with Kaust

November 27, 2011

Saudi Basic Industries Corporation (Sabic) has signed four agreements with King Abdullah University of Science and Technology (Kaust) at the University campus in Thuwal. The agreements cover the devel... View more

Sabic CEO sees moderate growth, acquisitions in 2012

November 13, 2011

Saudi Basic Industries (Sabic) venture capital arm is looking at acquisitions of up to 100 million for the new business its chief executive said and has already made a few purchases in Europe and the ... View more

Technology and innovation propel Sabic forward

October 30, 2011

Sabic s creation was perhaps economic and developmental innovation at its best because it began with the idea of capturing flared gases and turning them into value-added products and in the process bu... View more

Sabic posts record $2.2bn profit in Q3

October 23, 2011

Saudi Basic Industries Corp (Sabic) the world s largest chemical producer by market value posted a 54 per cent rise in its third-quarter net profit beating analyst expectations on the back of high pro... View more

Sabic posts 61pc rise in Q2 net

July 25, 2011

Saudi Basic Industries Corp (Sabic) the world s biggest petrochemical firm by market value posted a 61 per cent rise in second-quarter net profit due to increases in output and prices. Sabic beat anal... View more

Sabic and Exxon award contracts

June 27, 2011

SAUDI Basic Industries Corporation (Sabic) and affiliates of ExxonMobil Chemical have announced that front-end engineering design (Feed) contracts were awarded and that all components are in Feed phas... View more

Sabic, Sinopec to invest in polycarbonate plant

May 23, 2011

Saudi Basic Industries Corporation (Sabic) and China Petroleum & Chemical Corporation (Sinopec Corp) have announced a memorandum of understanding (MOU) to collaborate on polycarbonate production in Ch... View more

Sabic looking to boost capacity

March 28, 2011

SAUDI Basic Industries Corp (Sabic) the Middle East s largest listed company will continue to boost capacities in coming years after output and sales rose in 2010 and the petrochemical giant continues... View more

Sabic, BCG, Modon sign deal to develop cities

March 21, 2011

Saudi Basic Industries Corp (Sabic) and the Saudi Industrial Property Authority (Modon) signed a three-way deal with Boston Consulting Group (BCG) to conduct a study to develop six cities in the kingd... View more

Sabic signs four technology agreements with Kaust

March 14, 2011

Saudi Basic Industries Corporation (Sabic) has signed four agreements with King Abdullah University of Science and Technology (Kaust) to cover the development and localisation of technology in Saudi A... View more

Sabic expands to S Africa, Morocco

November 29, 2010

SAUDI Basic Industries Corporation (Sabic) has launched its new office in Cape Town South Africa in the presence of Prince Saud bin Abdullah bin Thunayan Al Saud chairman of the Royal Commission for J... View more

Sabic Q3 profit up 46pc to $1.42bn

October 25, 2010

Saudi Basic Industries Corp (Sabic) beat forecasts with a 46 per cent rise in third-quarter profit on higher plastic and petrochemical sales and looked set for at least the same profit level in the fo... View more

Sabic net triples on prices, demand

September 20, 2010

SAUDI Basic Industries Corp (Sabic) the world s biggest petrochemicals maker says second-quarter profit almost tripled on higher prices and as demand for fertilisers and plastics recovered in a streng... View more

Sabic to set up new innovation centre

June 27, 2010

SAUDI Basic Industries Corporation (Sabic) plans to build a new research and innovation centre at the King Abdullah University of Science and Technology (Kaust) campus in Saudi Arabia. Sabic has signe... View more

Sabic Q4 net up as prices rise

January 25, 2010

Saudi Arabian Basic Industries Corp (Sabic) the world s top chemical company by market value said its net profit soared in the fourth quarter thanks to higher prices and sales volumes for most its pro... View more

Sabic sees petchem demand picking up

November 30, 2009

RIYADH: Global demand for petrochemicals is improving but more time is needed until it reaches the desired level Mohamed Al-Mady CEO of Saudi Basic Industries Corp (Sabic) has said. The company plans ... View more

Sabic Q3 net falls, quiet on dividend

October 26, 2009

Saudi Basic Industries Corp (Sabic) the world s biggest chemicals company by market value kept investors guessing if it would pay a dividend for 2009 after third-quarter profit halved. Chief executive... View more

ExxonMobil, Sabic JV petchem plant to cost $5 billion

October 12, 2009

ExxonMobil Chemical and Saudi Basic Industries Corp (Sabic) joint-venture synthetic rubber plants were expected to cost about 5 billion a senior company executive said. The project will have a combine... View more

Sabic says agrees $1 billion JV with Mitsubishi Rayon

August 17, 2009

Saudi Basic Industries Corp (Sabic) said it has signed a letter of intent with Japan s Mitsubishi Rayon to set up a methyl joint venture with an estimated cost of 1 billion. The Saudi plant would prod... View more

Sabic profit plummets 76pc on economic ills

July 26, 2009

Saudi Basic Industries Corp (Sabic) a yardstick for global petrochemical firms performance posted a 76 per cent drop in second-quarter net profit and blamed the drop on lower petrochemicals and metals... View more

China approves Sabic-Sinopec JV, cost rises 20 per cent

July 19, 2009

China has approved Saudi Basic Industries Corp (Sabic) and Sinopec joint venture plant the Saudi firm said announcing a higher cost estimate and a lower output target. State-controlled Sabic estimated... View more

Sabic restructuring to affect production

June 28, 2009

SAUDI Arabia Basic Industries Corp (Sabic) the Arab world s largest company will reduce production or close poorly performing plants as part of its restructuring measures its chief executive says. The... View more

Sabic, Sipchem agree to tap synergies during crisis

May 17, 2009

Two of Saudi Arabia s biggest petrochemical firms said they have agreed to cooperate on the execution of projects to create synergies after the global economic slowdown hit their profitability. Shares... View more

Sabic swings to big Q1 loss, to cut costs

April 26, 2009

Saudi Basic Industries Corp (Sabic) the Arab world s largest company and a yardstick for the performance of global petrochemical firms swung to a worse-than-expected loss in the first quarter. Sabic s... View more

Led by Sabic, Gulf petchem gears up for consolidation

March 29, 2009

MERGERS and acquisitions (M&A) will help the region s chemicals sector although they may contract in line with falling global demand. The Middle East states have been using their oil and gas resources... View more

Emerson develops adaptive MPC for Sabic Innovative

March 15, 2009

Emerson Process Management s Advanced Process Control specialists have developed an adaptive Model Predictive Controller (MPC) for a specific production process at Sabic Innovative Plastics Bergen op ... View more

Sabic Q4 profit plummets 95pc

January 25, 2009

Saudi Basic Industries Corp (Sabic) posted a sharp fall in fourth-quarter profit due to a drop in demand for petrochemical products and said it would halt output at some plants and cut jobs. Leading c... View more

Sabic warns price slide will hurt Q4

November 20, 2008

Saudi Basic Industries Corp (Sabic) has said it expects its fourth-quarter earnings to be hit by a rapid slide in prices and a slowdown in demand due to the global financial crisis. The world s larges... View more

Sabic marches on unchallenged despite profit fall

November 20, 2008

SAUDI Basic Industries Corp (Sabic) must keep costs at a minimum given the current global turmoil its top executive says after it posted its first decline in quarterly net profit in more than two year... View more

Sabic-Aramco China tie-up

November 20, 2008

SINO Saudi Aramco Company a wholly owned subsidiary of Saudi Aramco signed an agreement with Sabic Shenzhen Trading Company to market Saudi Aramco s 25 per cent share of polyolefin products produced b... View more

Sabic - Yansab - HDPE

November 20, 2008

Project Name: Sabic Yanbu United Petrochemical Complex (Yansab) HDPE Name of Client: Sabic Budget: 400 million Main Contractor: Stone & Webster Facility Type: High Density Polyethylene (HDPE) Status: ... View more

Sabic tie-up marks the start of a unique marketing deal

September 21, 2008

SINO Saudi Aramco Company a wholly owned subsidiary of Saudi Aramco has signed a mutual cooperation agreement with Sabic Shenzhen Trading Company Ltd a Sabic subsidiary in China. But while Saudi Aramc... View more

Sabic develops turnaround optimisation project

September 14, 2008

SABIC Innovative Plastics is with the help of The Woodhouse Partnership Ltd (TWPL) developing a new and quantified risk-based process for optimising its long-term inspection maintenance and shutdown p... View more

Sabic plans to market Aramco’s China output

July 20, 2008

Saudi Basic Industries Corp (Sabic) will market petrochemical output for state oil giant Saudi Aramco from a Chinese refinery Aramco said in a statement. Sabic signed an agreement to market Aramco s 2... View more

Sabic, Sinopec agree $2.5bn China project

June 30, 2008

Saudi Basic Industries Corp (Sabic) and China s Sinopec Corp will spend 2.5 billion on an expanded petrochemicals project in northern China the state-owned Saudi firm said. The original plan for the 5... View more

Sabic, head and shoulders above competition

June 30, 2008

AN ambitious growth strategy and strong government support have made Saudi Basic Industries Corporation (Sabic) the region s largest petrochemicals producer. Sabic established in 1976 has a total prod... View more

Sabic eyes Iraq in gas search

June 30, 2008

SAUDI Basic Industries Corp (Sabic) the world s largest petrochemical firm by market value may invest 5 billion in war-torn Iraq as competition for energy at home forces it to search for cheap gas in ... View more

Sabic strengthens position in China

June 30, 2008

SAUDI Basic Industries Corporation (Sabic) is further strengthening its leadership position in China the world s most important and fastest growing polymers market. We have increased Sabic s presence ... View more

Sabic gets approval for $1bn Islamic bond

May 4, 2008

Saudi Basic Industries Corp 2010 (Sabic) won regulatory approval to sell Islamic bonds worth as much as 5 billion riyals ( 1.33 billion) the kingdom s stock market regulator said. In July the world s ... View more

Sabic net up 10pc on Asian demand

April 27, 2008

Saudi Basic Industries Corp (Sabic) posted its smallest growth in quarterly profit in almost two years in the first quarter as a US economic slowdown hurt demand for chemicals even as Asian demand jum... View more

Jafza signs up with Sabic in Philippines

April 27, 2008

JAFZA International the global economic zone operations arm of Economic Zones World signed an agreement with Subic Bay Metropolitan Authority (SBMA) for the development and regeneration of Subic Bay F... View more

Sabic mulls Aramco deal

March 27, 2008

SAUDI Basic Industries Corp ( Sabic) is considering a deal with Saudi Aramco to upgrade a Red Sea Coast refinery and a build a petrochemicals complex there. Sabic is also believed to be looking closel... View more

Sabic cutting costs to tackle weaker demand

March 27, 2008

SAUDI Basic Industries Corp (Sabic) the world s largest chemicals firm by market value is cutting spending to counter rising costs and a possible slowdown in US and European demand in 2008. It says it... View more

Sabic, Sinopec in $1.7bn tie-up

February 3, 2008

China Petroleum and Chemical Corporation (Sinopec) and Saudi Basic Industries Corporation (Sabic) have signed a Heads of Agreement (HOA) toward forming a 1.7 billion joint venture company. This 50:50 ... View more

Sabic eyes Aramco petrochemical deal

January 17, 2008

Saudi Basic Industries Corp (Sabic) is considering a deal with state-oil company Saudi Aramco to upgrade a Red Sea Coast refinery and build a petrochemicals complex there a magazine reported. A deal w... View more

Sabic plans to issue bonus shares at 1:5

January 6, 2008

Saudi Basic Industries Corp (Sabic) has said it plans to offer shareholders one free bonus share for every five they hold and two riyals in dividend for the second half of 2007. Sabic the world s larg... View more

Building costs may hit projects warns Sabic

December 13, 2007

Soaring construction costs in the Middle East could force firms to cancel petrochemical projects Saudi Basic Industries Corp (Sabic) said. Costs have risen by 50 per cent in the past four years Sabic ... View more

Sabic methanol plant

November 25, 2007

Project name: Sabic Methanol Plant V Name of client: Saudi Basic Industries Corporation (Sabic); Ar-Razi (Saudi Methanol Company) Budget: 450 million Main contractor: Mitsubishi Heavy Industries (MHI)... View more

Sabic plans to cut bond sale

August 19, 2007

Saudi Basic Industries Corporation (Sabic) plans to cut a bond sale by almost half to 1.5 billion on concern that global credit fears have hurt investor appetite two of the arranging banks said. Sabic... View more

Record profit joy for Sabic

July 19, 2007

Saudi Basic Industries Corp (Sabic) the world s largest chemical company by market value posted its fourth straight record profit in the second quarter on higher product prices and output. Net income ... View more

Sabic aiming to double revenues

June 24, 2007

Sabic aims to more than double revenues to 225 billion riyals ( 60 billion) by 2020 the chief executive told shareholders. Sabic has said it plans to nearly double its production to 100 million tonnes... View more

Sabic, Sinopec to set up $1bn plant

June 18, 2007

Saudi Basic Industries Corp (Sabic) and China s Sinopec Corp have agreed to invest over 1 billion in a petrochemical plant industry sources said. Under the preliminary deal signed in late May which ne... View more

$2.2bn bond sale planned by Sabic

June 10, 2007

Saudi Basic Industries Corp (Sabic) said it would sell bonds worth 2.2 billion to fund its purchase of General Electric s plastics unit. Sabic bought GE Plastics for 11.6 billion last month. The compa... View more

Sabic profit rises 50pc to $1.7bn

April 19, 2007

Saudi Arabia s Sabic the world s largest chemical company by market value posted a record quarterly profit up 50 per cent on last year and beating analyst forecasts on higher prices and output. Saudi ... View more

Chemicals rally and oil slide boost Sabic

January 31, 2007

Saudi Basic Industries Corp (Sabic) the world s largest petrochemical company by market value reported a record net profit in the fourth quarter as chemical and fertiliser prices rose and energy costs... View more

Huntsman acquisition to spur Sabic Europe growth

January 14, 2007

Saudi Basic Industries Corporation (Sabic) vice-chairman and CEO Mohamed Al Mady and Huntsman Corporation president and CEO Peter Huntsman announced the completion of the purchase of Huntsman s UK Bas... View more

Sabic wins key global award for excellence

December 10, 2006

Platts has named Saudi Basic Industries Corporation (Sabic) as Petrochemical Company of the Year for 2006. The award is among 16 prize categories of the annual Platts Global Energy Awards. The Global ... View more

$1.4bn profit joy for Sabic

October 22, 2006

Saudi Basic Industries Corp (Sabic) posted a record net profit of 5.4 billion riyals ( 1.43 billion) in the third quarter of 2006. The third quarter s results were 19 per cent higher than profits in t... View more

Higher sales boost Sabic

September 24, 2006

The Saudi Basic Industries Corporation (Sabic) has reported a net profit of SR4.6 billion ( 1.2 billion) for the second quarter 2006. The total profits generated in the first half of 2006 amount to SR... View more

Sabic records $2.3bn profits

July 24, 2006

Saudi Basic Industries Corp said net profit for the first half 2006 reached 8.8 billion Saudi riyals ( 2.3 billion) 10 per cent lower than a profit of 9.8 billion riyals in the same period of 2005 due... View more

Sabic China to spur trade

May 29, 2006

Sabic is embarking on a major expansion programme in Asia Pacific especially in China - the world s largest plastic market. In tandem with its expansion plans Sabic is finalizing plans to set up a ful... View more

Dutch clear way for new Sabic cracker

May 2, 2006

The Dutch government has cleared the way for Sabic to build a new naphtha cracker in the southern city of Geleen the economy ministry said. A ministry spokesman said remaining issues surrounding fisca... View more

Profit joy for Sabic

February 27, 2006

Saudi Basic Industries Corporation (Sabic) reported a record 2005 net profit of SR19.2 billion ( 5.11 billion) compared to SR14.2 billion in 2004 an increase of 35 per cent. The net profits in the fou... View more

Sabic-Sinopec plan key talks

January 29, 2006

Saudi Basic Industries Corp (Sabic) will resume negotiations with Sinopec to build a major ethylene complex in China a potential partnership helped by Saudi King Abdullah s visit to Beijing a Chinese ... View more

Sabic profit grows 54pc

October 24, 2005

Saudi Basic Industries Corp s (Sabic) nine-month net profit rose 54 per cent the petrochemical company said but third-quarter figures suggested Sabic s galloping profit growth might be slowing. The Mi... View more

Sabic hopeful of strong Q3 results

October 2, 2005

Saudi Basic Industries Corp (Sabic) expects third-quarter results to repeat the growth it reported for the first half the chief executive of the Middle East s top petrochemical maker said. Asked wheth... View more

Sabic announces $70bn spending

September 25, 2005

Petrochemical giant Saudi Basic Industries (Sabic) will invest up to 70 billion in expansion projects over the next 15 years a senior company executive said. Sabic s current and planned investments fo... View more

Sabic to raise money locally

September 18, 2005

Petrochemical giant Saudi Basic Industries (Sabic) is pressing ahead with plans for a domestic Islamic bond this year and is not looking abroad despite strong credit ratings the company said. Sabic wh... View more

Sabic to launch local bond issue

July 11, 2005

Petrochemical company Saudi Basic Industries Corp (Sabic) will issue a 1 billion riyal ( 267 million) domestic corporate bond in the third quarter of this year. We anticipate to do it in the third qua... View more

Sabic profit rises 116pc

June 26, 2005

Saudi Arabian petrochemical giant Saudi Basic Industries Corp (Sabic) said its first-quarter net profit rose 116 per cent from the same period last year to 5.08 billion riyals ( 1.36 billion). Sabic t... View more

Sabic chief urges research spending

May 15, 2005

Saudi Basic Industries Corporation (Sabic) vice-chairman and chief executive officer Mohamed H Al Mady has called for all Middle East petrochemical producers to invest in research and technology to en... View more

Double profit joy as Sabic surges

April 24, 2005

Petrochemicals giant Saudi Basic Industries Corp (Sabic) said that its net profit rose 113 per cent last year to a record 14.25 billion riyals ( 3.80 billion) on the back of high global prices for its... View more

Sabic to cut jobs at German plant

February 21, 2005

Saudi Basic Industries Corp (Sabic) will cut 200 jobs at its German manufacturing site at Gelsenkirchen the Middle East s top petrochemicals maker has said. Sabic said 150 of the 540 jobs at the site ... View more

Sabic planning to issue $267m bond

November 27, 2004

Petrochemicals giant Saudi Basic Industries Corp (Sabic) has said it plans to issue Saudi Arabia s first major domestic corporate bond next year worth up to one billion riyals ( 267 million) to help f... View more

Sabic double joy on cost cut efforts

October 24, 2004

Saudi Basic Industries Corp (Sabic) the Middle East s biggest petrochemicals producer said nine-month net profits doubled on higher world prices for its products and cost-cutting efforts. In a stateme... View more

Sabic profits soar 67pc

July 24, 2004

Saudi Basic Industries Corp. (Sabic) the Middle East s biggest petrochemicals producer said net half-year profits rose to 5.34 billion riyals ( 1.42 billion) up 67 per cent on the same period last yea... View more

Sabic approves a $960m dividend to shareholders

April 26, 2004

Saudi Basic Industries Corp (Sabic) s general assembly has approved payment of dividends of SR3 600 million ( 960 million) to shareholders at SR12 per share. The payment will be made on May 1. Distrib... View more

Sabic set to pay $960m dividends for last year

March 20, 2004

Saudi industrial giant Saudi Basic Industries Corp (Sabic) said it would pay dividends worth SR3.6 billion ( 960 million) to shareholders for 2003. A Sabic statement said the SR12 per share dividend w... View more

Sabic to invest $2bn in petchem sector

October 5, 2003

Industrial giant Saudi Basic Industries Corp (Sabic) has earmarked more than 2 billion to expand its petrochemical segment within the next five years a senior official with the Saudi firm said. We pla... View more

Sabic cuts Euro runs by 10pc

September 22, 2003

Saudi petrochemicals giant Saudi Basic Industries Corporation (Sabic) has cut runs at one of its northwest European naphtha crackers by 10 per cent due to an unplanned furnace outage officials said. T... View more

Sabic firm awards butene plant project to Samsung

August 24, 2003

Arabian Petrochemical Company (PETROKEMYA) a wholly owned affiliate of Saudi Basic Industries Corporation (SABIC) has awarded a lump-sum turnkey contract to the Korean company Samsung Engineering comp... View more

Sabic builds more capacity

June 24, 2003

PROJECTS that Sabic set off upon have an inevitable impact on the business environment of Jubail because of the multifarious businesses its affiliates are engaged in. Sabic had originally planned to b... View more

Sabic makes mark overseas

April 26, 2003

Established in 1976 Saudi Basic Industries Corp s (Sabic) has been recently making its mark in its overseas markets. Working with basic and intermediate chemicals its market capitalisation has reached... View more

Sabic profits soar 358pc as sales rise

April 26, 2003

Saudi Arabian industrial giant Saudi Basic Industries Corp (Sabic) said its first quarter 2003 net profit jumped 358 per cent to 1.396 billion riyals ( 372 million) from a year earlier on increased sa... View more

Exxon wins $400m in Sabic case

March 29, 2003

Exxon Mobil Corp the world s largest publicly traded oil company said it won a jury verdict of more than 400 million in a contract dispute with Saudi Basic Industries Corp (Sabic). Sabic must pay Exxo... View more

Cooperheat banks on its employees Sabic, through its affiliate

November 18, 2002

Sabic Services Ltd (SSL) has awarded Cooperheat Saudi Arabia a high technology service provider one of only three global contracts for inspection services applicable to all Sabic affiliate companies f... View more

Sabic Euro Petrochemicals the new global star

November 18, 2002

Sabic Euro-Petrochemcials is the newest star on the international market following the company s recent takeover of DSM s petrochemicals business. The takeover can be considered as one of Sabic s most... View more

Sabic profit joy over sales surge

October 28, 2002

Saudi Arabia s industrial giant Saudi Basic Industries Corp (Sabic) said its net profits rose by 8.5 per cent to 2.04 billion riyals ( 544 million) in the first nine months of 2002 from a year earlier... View more

Sabic profits fall to $262m

August 1, 2002

Saudi Arabian industrial giant Saudi Basic Industries Corp (Sabic) said its first-half net profit fell to 985 million riyals ( 262.7 million) from 1.5 billion riyals a year earlier. A Sabic statement ... View more

Sabic to boost global role

June 3, 2002

Saudi Basic Industries Corporation (Sabic) is pushing ahead with plans to raise its output by 37 per cent to 48 million tonnes per year (tpy) by 2010. The petrochemical industry is consolidating and t... View more

Sabic looks on the bright side

April 29, 2002

Saudi Basic Industries Corporation (Sabic) has reported a 58 per cent lower net profit of 304 million riyals ( 81 million) for the first quarter of this year blaming the fall on lower petrochemical pr... View more

Sabic secures European foothold with DSM buy

April 8, 2002

Dutch chemicals group DSM NV said it had sold its petrochemical activities to petrochemical giant Saudi Basic Industries Corporation (Sabic) for a higher-than-expected 2.25 billion euros ( 1.98 billio... View more

Sabic outperforms rivals despite tough markets

March 25, 2002

HISTORICALLY LOW product prices higher operating costs and the dumping of imports from abroad in the local market all combined to make last year a difficult one for petrochemical giant Saudi Basic Ind... View more

Turnaround on cards for Sabic

December 17, 2001

Saudi Basic Industries Corp (Sabic) has scheduled to shut down two of its three MTBE plants in Al Jubail from this month and early January for a turnaround a company source said. Sabic plans to shut S... View more

Sabic the benchmark for ambitious growth

November 26, 2001

WHEN SABIC was established a quarter of a century ago with aims to be a world leader in petrochemicals few would have believed just how successfully this would be achieved. Sabic has benefitted from c... View more

Sabic gets closer to ultimate target

March 28, 2001

Soaring profits strong international prices and the completion of a number of expansion projects. The Year 2000 was a busy and successful one for Sabic whose affiliates turned out 21 million tonnes of... View more

Sabic to distribute $355m dividend

January 1, 0001

Shareholders in Saudi ArabiaÕs industrial giant Saudi Basic Industries Corp (Sabic) have agreed to distribute 1.33 billion riyals ( 355.5 million) or five riyals per share in dividends for 2000. A Sab... View more

Sabic to distribute $355m dividend

January 1, 0001

Shareholders in Saudi Arabia s industrial giant Saudi Basic Industries Corp (Sabic) have agreed to distribute 1.33 billion riyals ( 355.5 million) or five riyals per share in dividends for 2000. A Sab... View more

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