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The Latest Breaking News from SABIC

SABIC Solutions Win 5 Edison Awards for Best New Products

SABIC, a global diversified chemicals company, has been awarded five of the prestigious Edison Awards 2023 for its innovative solutions, designed to meet the needs of their customers and the broader value chain, and as well aligned with Saudi Vision 2030, reported the Saudi Press Agency on Friday. SABIC won…

Asharq Al-Awsat

Sustainable water management crucial

Amid cycles of drought and flooding, safe and affordable water management has never been more important, especially in Asia.

Bangkok Post

SABIC CEO to Asharq Al-Awsat: We Expect Improvement in Demand for Petrochemicals in 2nd Half of 2023

Energy prices caused the profit margins of the Saudi Basic Industries Corporation (SABIC) - the world’s largest petrochemical producer - to decline by 28 percent in 2022. SABIC acting CEO Abdulrahman Al-Fageeh told Asharq Al-Awsat that the company was optimistic about the quality and reliability of the factories, expecting that…

Asharq Al-Awsat

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Joint Saudi-Omani-Kuwaiti Coalition to Develop Petrochemical Complex in Duqm

A joint Saudi-Omani-Kuwaiti coalition was established on Wednesday in Muscat.

Asharq Al-Awsat

Saudi Arabia, China to Implement Refining and Petrochemical Projects

Saudi Arabia and China intend to explore cooperation opportunities in refining and petrochemical projects after the significant energy companies signed memorandums of understanding (MoU) to implement several projects. Saudi Aramco, Chinese Petroleum and Chemical Corporation (Sinopec), and SABIC are exploring cooperation opportunities in refining and petrochemical projects in China and…

Asharq Al-Awsat

Saudi Arabia Exports World’s First Commercial Shipment of Blue Ammonia to S. Korea

Saudi Arabia delivered on Wednesday the world’s first commercial shipment of certified clean blue ammonia to South Korea. SABIC Agri-Nutrients and Saudi Aramco sent the shipment to South Korea’s Lotte Fine Chemicals. It is considered a new milestone in the development of carbon neutral solutions since blue ammonia is a…

Asharq Al-Awsat

Saudi's SABIC Signs Agreement to Study Feasibility of Investing in Polish Petrochemical Sector

Saudi petrochemical company SABIC has signed a joint development agreement with Saudi Aramco and PKN ORLEN, the largest energy group in Poland, to jointly assess the technical and economic feasibility of establishing a petrochemical production project in Gdańsk, Poland. Acting CEO of SABIC Eng.

Asharq Al-Awsat

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Saudi Petrochemical Strategy in its Final Stages

Saudi Minister of Energy Prince Abdulaziz bin Salman said on Wednesday that the petrochemical sector was rapidly growing in demand for oil globally, stressing that the acceleration in growth will continue until 2040. In remarks during the inauguration of the Saudi Petrochemical Industries Company (SABIC) building in Jubail, the minister…

Asharq Al-Awsat

SABIC Profits Fell 67% in Third Quarter to 1.84 Billion Riyals

The net profit of Saudi Basic Industries Corporation (SABIC) fell by 67.14% in the third quarter of 2022, reaching almost 1.84 billion riyals, compared to a net profit of about 5.6 billion of riyals in the same quarter of 2021. On a quarterly basis, SABIC’s net profit decreased by 76.8%…

Asharq Al-Awsat

Kwasi Kwarteng’s secret meetings with Saudi oil firms revealed

Exclusive: Meetings while in Saudi Arabia undisclosed due to ‘administrative oversight’, says business department

The Guardian - UK

Local Content Purchases in Saudi Private Sector Estimated at $26 Billion

A gathering of the business sector and companies in Saudi Arabia estimated the volume of contracts targeting local content purchases in the private sector to exceed 100 billion riyals ($26 billion). The Federation of Saudi Chambers, represented by the National Committee for Local Content, in cooperation with the Local Content…

Asharq Al-Awsat

SABIC Announces Results of 2022 Second Quarter

Saudi Basic Industries Corp (SABIC) reported on Tuesday its earnings for the second quarter of 2022. The company’s revenue for the second quarter reached SAR 55.98 ($ 14.93 billion), marking an increase of 6% compared to the previous quarter and a 32% increase year-on-year. Net income during the second quarter…

Asharq Al-Awsat

Aramco and SABIC Agri-Nutrients Receive World’s First TÜV Certificate of Accreditation for ‘Blue’ Hydrogen, Ammonia Products

Aramco and the SABIC Agri-Nutrients Company (“SABIC AN”), have obtained the world’s first independent certifications recognizing “blue” hydrogen and ammonia production, Aramco said in a statement on Thursday. The certifications were granted by TÜV Rheinland, a leading independent testing, inspection and certification agency based in Germany, to SABIC AN, in…

Asharq Al-Awsat

London, Riyadh to Ensure Sustainable Solutions Meeting Global Energy Needs

A British diplomat stressed that her country would work closely with Saudi Arabia as one of the strategic partners to ensure sustainable solutions that meet global energy needs and protect the world for the future. UK Deputy Ambassador to the Kingdom of Saudi Arabia Anna Walters affirmed that SABIC's recent…

Asharq Al-Awsat

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Asharq Al-Awsat

SABIC President to Asharq Al-Awsat: The Ukrainian Crisis has Pushed the Diversification of our Products

Youssef Al-Benyan, Vice Chairman and CEO of SABIC, said that the Russian-Ukrainian war has strengthened the diversification of the company’s products and boosted its financial and economic strength, which was reflected in its performance results in the first quarter of 2022. In remarks to Asharq Al-Awsat during a press conference…

Asharq Al-Awsat

Saudi Dussur Signs 4 Joint Ventures, Global Acquisition Deal

The Saudi Arabian Industrial Investments (Dussur) announced the signing of five new shareholders' agreements, including four joint ventures and one global acquisition deal. Dussur, owned by PIF, Aramco, and SABIC, signed the agreement at a special event attended by Minister of Energy and Investment Prince Abdulaziz bin Salman, Minister of…

Asharq Al-Awsat

Saudi Stocks Rise after Kingdom Lifts COVID-19 Restrictions

Saudi Arabian shares closed higher on Sunday, tracking a rise in oil prices as the Kingdom lifted all COVID-19 restrictions, and the conflict in Ukraine intensified. Saudi Arabia's benchmark index ended up on a 0.4 percent rise, the highest peak recorded in July 2006, buoyed by petrochemical and energy stocks,…

Asharq Al-Awsat

SABIC Purchases Clariant’s 50% Share in Scientific Design

Saudi Arabia’s SABIC has signed an agreement to purchase Clariant’s 50 percent stake in specialties company Scientific Design, currently a 50/50 joint-venture with SABIC. Subject to regulatory approval, expected in mid-2022, the transaction will give SABIC full ownership of Scientific Design, which is a leading licensor of high-performance process technologies…

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Asharq Al-Awsat

Exxonmobil, SABIC Start Operations at Gulf Coast Manufacturing Facility

ExxonMobil and SABIC announced on Thursday the successful startup of Gulf Coast Growth Ventures world-scale manufacturing facility in San Patricio County, Texas. The new facility will produce materials used in packaging, agricultural film, construction materials, clothing, and automotive coolants. The operation includes a 1.8 million metric ton per year ethane…

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