Sabic sees positive Q1 though cautious over Covid-19 ...Qatar

Saudi Basic Industries Corp, the world’s fourth-biggest petrochemicals firm, expects business performance to be positive in the first quarter of 2021 after an uptick in chemical prices but remains cautious given Covid-19 uncertainty, its CEO said yesterday. Saudi Aramco’s acquisition of a 70% stake in Sabic will have a financial benefit worth $3bn to $4bn, Yousef al-Benyan told reporters on a virtual news conference. “There is an enhancement of cooperation between Sabic and Aramco. As mentioned, God willing, the benefits between the two companies is expected in the range of $3bn-$4bn. Sabic’s share of that is from $1.5bn-$1.8bn,” the chief executive said. Sabic posted a net profit of 2.22bn

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Sabic sees positive Q1 though cautious over Covid-19 ...Qatar

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