Saudi Basic Industries Corporation

• Performance
• Statistics
• Profile
• Financials
• News
• In Depth
• Disclosures
• Press Releases

Recent Articles

• Exxonmobil, SABIC agree synthetic rubber JV18 November 2008

  Plant to have a capacity of 400,000 tonnes, detailed studies needed first.

• SABIC expects Q4 earnings to be hit by slowdown10 November 2008

  Rapid slide in prices will also hit performance, says company chief executive.

• SABIC to keep costs to 'absolute minimum'28 October 2008

  Firm reviewing project pipeline and scaling back overseas travel and training, CEO says.

• Sabic offers great value to investors, says HSBC19 October 2008

  Saudi chemical maker 'extremely attractively valued', despite fall in net Q3 income.

• Saudi SABIC reports decline in Q3 profit18 October 2008

  Quarterly profit falls 2% to $1.93bn, sales growth down, anticipating decline in demand.

• SABIC to triple steel production capacity13 October 2008

  Gulf's largest steel-maker to increase capacity to 17mn tonnes by 2020 with new plants and acquisitions.

• Saudi stock market hits new four-year low11 October 2008

  UPDATE 2: Tadawul nosedives 6% as global financial crisis continues to affect investors.

• Saudi SABIC cuts steel prices amid softening demand5 October 2008

  Prices to fall by a further 8-15% by year-end, says one industry figure.

• SABIC profit slump expected in Q329 September 2008

  KSB Capital forecasts profit of $1.77bn for petrochemicals giant, down 10.3% year-on-year.

• SABIC helps to halt Saudi shares slide8 September 2008

  Gulf indices post mixed performances but Riyadh exchange recovers from Sunday's big losses.

• Dubai, Kuwait buck shares slump in Gulf region3 September 2008

  Saudi slips for the third day running as selling pressure from foreigners hit bourses.

• Negative day for Gulf exchanges2 September 2008

  Falling oil prices plays part in disappointing day for the region's share traders.

• Saudi shares rise on foreign investment change23 August 2008

  UPDATE 1: Main index posts its biggest one-day rise since April 2007.

• 70% expect to suffer summer blackouts5 August 2008

  Arabian Business poll reveals widespread concern over power supply shortages in region.

• SABIC faces days of disruption after power outage2 August 2008

  Production hampered at some of Saudi petrochemical giant's plants in Jubail.

• SABIC eyes refinancing debt for $11bn buyout19 July 2008

  Saudi bankers say $8.6bn of deal from GE Plastics acquistion is at stake.

• Saudi SABIC Q2 net profit up 16.5% to record19 July 2008

  Record quarterly profits of $2.02bn as high oil prices underpin company margins.

• Mideast's largest mining IPO oversubscribed16 July 2008

  Strong demand from Saudi investors for shares in $2.5bn Maaden offering.

• SABIC earnings to rise 9.2%14 July 2008

  UPDATE 1: World's biggest chemicals firm forecast to make Q2 profit of $1.9bn despite US downturn.

• SAFCO, SABIC unit to build steel plant13 July 2008

  SAFCO says signed deal with unit of Saudi Basic Industries Corp for construction of steel plant.

• Samba to lead Mideast's biggest mining IPO29 June 2008

  Saudi's Maaden appoints Samba subsidiary to oversee $2.47bn share sale.

• SABIC to expand China petrochemical stake18 June 2008

  Saudi Basic Industries Corp. set to double investment in China ethylene complex.

• Saudi Kayan pens $6bn loan deal31 May 2008

  Petrochemicals firm signs agreement with group of banks to part finance complex in Al-Jubail industrial zone.

• Saudi's Maaden plans $2.5bn July IPO12 May 2008

  State-owned mining company to offer Saudi investors 462.5 million of stock, equivalent to 50% of share capital.

• Banks recover losses to drive markets higher12 May 2008

  Saudi the only loser, with the rest of Gulf's markets all ending up for the day.