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FINANCIAL NEWS
GCC petrochemical firms may experience weak Q2
05 Jun 2017
(MENAFN) GCC petrochemical firms recorded positive earnings in the first quarter of this year with seven names, out of eleven main firms in the area, higher than estimates.
However, Q2 could be a weak quarter, controlled by lower product prices and multiple closes through the sector, as exposed investment bank SICO in a report.
Accordingly, earnings at the region’s petrochemical main Yansab, Sipchem, Petrochem, SIIG and Alujain will be affected by shutdowns amid the period.
This year will sustain recent levels as it predicts supply growth to be a modest 1.8 percent coming from a ramp up of three green field crackers which started last year.
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MENAFN0506201700450000ID1095535979
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