Sector News

Saudi's SABIC looking for Africa investment opportunities

October 30, 2018
Energy & Chemical Value Chain

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

comments closed

Related News

February 17, 2024

INEOS Inovyn launches Ultra Low Carbon Chlor-Alkali range

Energy & Chemical Value Chain

INEOS Inovyn announces a new Ultra Low Carbon range (ULC) of Chlor-Alkali products that reduce the carbon footprint of caustic soda, caustic potash and chlorine by up to 70% compared to industry averages. The new range uses renewable energy sources to power INEOS Inovyn manufacturing sites.

February 17, 2024

Solvay completes coal phase-out at Wyoming soda ash plant

Energy & Chemical Value Chain

Solvay operates seven soda ash plants worldwide. Beyond Green River, coal is being phased out at two of the company’s plants in France and Germany. By the end of 2024, the Rheinberg, Germany site will become the first soda ash plant in the world to be powered primarily with renewable energy.

February 17, 2024

Chemours names new board member

Energy & Chemical Value Chain

The Chemours Company has named Pamela Fletcher to its board of directors, effective March 1. Fletcher, formerly the chief sustainability officer at Delta Air Lines Inc., takes the seat of Sandra Phillips Rogers, who has opted not to stand for reelection to the company’s board.

How can we help you?

We're easy to reach