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FINANCIAL NEWS
Saudi SABIC net profit touches USD1.64b in Q2
27 Jul 2015
(MENAFN) Saudi Arabian Basic Industries Corporation, SABIC, has registered a net profit of USD1.64 billion in the second quarter, Arab News reported.
In the first six months of this year, SABIC net profit amounted to USD2.6 billion, dropping by 21.63 percent compared to the same period of 2014.
The company’s results are attributed to oil prices and global economic growth, due to the fact that its products are used extensively in construction, agriculture and industry.
On the global side, SABIC had recently inked an agreement with Houston, Texas-based Enterprise Products Partners L.P. to get shale gas.
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