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Tag: saudis
Saudi's SABIC unit, South Korea's SK form polyethylene project
2015-07-05 08:56:44| Chemicals - Topix.net
Saudi Basic Industries Corp said on Sunday it had completed the formation of a joint venture with Korean petrochemical manufacturer SK Global Chemical Co to produce polyethylene products. Total investment will be about $640 million for the technology and plant construction, SABIC said in a statement.
Oil slide slashes first-quarter profit, not investment plans at Saudi's SABIC
2015-04-19 15:07:54| Chemicals - Topix.net
Saudi Basic Industries Corp faces heavy pressure on its profits due to cheap oil but will keep investing globally to boost capacity in key areas, its acting chief executive said on Sunday after the company reported a 39 plunge in first-quarter profit. SABIC 2010.SE, one of the world's largest petrochemicals groups and Saudi Arabia's biggest listed firm, said net profit sank to 3.93 billion riyals in the three months to March 31 from 6.44 billion riyals a year earlier.
Tags: plans
investment
oil
profit
UK's Serco-led consortium to support Saudi's North South Railway
2015-02-24 01:00:00| Railway Technology
The Serco-led UK consortium has signed a contract worth more than 120m with Saudi Railway Company (SAR) to deliver management and technical support for operations on the North South Railway (NSR).
Tags: support
north
south
railway
Just as oil starts to lose its grip, Saudis' low prices pull us back
2015-02-01 17:17:00| Climate Ark Climate Change & Global Warming Newsfeed
LA Times: The conventional explanation for why the Saudis have not cut production is that their oil ministry's managers, led by veteran minister Ali Naimi, hope to disadvantage low-cost energy produced through fracking, a worrying source of competition. Forbes magazine has asked whether the dropping price of oil is "game over" for the fracking industry. Others see it as a move to shut down Russia, the oil cartel's biggest rival, or to damage regional rival Iran. But the Saudis understand that they need...
Saudis 'can cope' with low oil price
2015-01-19 12:09:53| BBC News | Business | UK Edition
Saudi Arabia can cope with low oil prices for "at least eight years", Saudi Arabia's petroleum minister's former senior adviser has told the BBC.