Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company is looking for future investment opportunities in Africa, which is a promising market to maintain sales growth, its chief executive said on Sunday.
The outlook for business in the United States, Asia and China remain positive despite some challenges due to high energy prices, Yousef al-Benyan told a news conference.
On Saudi Aramco’s talks to buy a controlling stake in the company from its biggest shareholder Public Investment Fund, he said he had nothing to say at the moment about a deal being discussed between a main shareholder and a future investor.
Earlier, SABIC reported a 5.4 percent rise in third-quarter net profit on Sunday, citing higher average selling prices and increase in sale volumes.
By Marwa Rashad
Source: Reuters
The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.
Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.
At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.
