Industry news

National Petrochemical Company 2Q net profit up 118% on improved sales The National 29 Jul 2018 Saudi Arabia’s National Petrochemical Company said second-quarter net income jumped 118 per cent on higher selling prices and recovering sales volumes. Net income in the three-month period ending June 30 climbed to 288 million riyals (Dh282m), up from 132m…

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EQUATE Invests Over $2.8 Million in Society & Decreases Greenhouse Gases by Over 1% through Sustainability Efforts EQUATE 09 Jul 2018 Continuing its role as a global petrochemical enterprise committed to sustainability, the EQUATE Group issued its 2015-2016 sustainability report that details its combined performance after acquiring MEGlobal in 2015. As the fifth account of…

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Sadara, Jubail University College ink agreement to boost academic, research collaboration Refiningcand Petrochemicals ME 23 Jul 2018 adara Chemical Company (Sadara) and Jubail University College (JUC) signed an MoU solidifying their cooperative relationship and their commitment to growing and developing greater academic and research oriented capabilities in students attending JUC. The MoU with the University…

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Sabic Q2 net profit jumps 81% on higher selling prices and improved sales The National 29 Jul 2018 Sabic, the Middle East’s biggest petrochemicals company, posted an 81 per cent increase in second-quarter net income, beating analysts’ estimates, as sales volumes rose and average selling prices of its products climbed. Net income for the three…

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Sipchem to buy stake of National Power Company in International Gases Company Refining and Petrochemicals ME 026 Jul 2018 audi International Petrochemical Company (Sipchem) announced the signing of an agreement with National Power Company (NPC) on 24 July 2018, in terms of which Sipchem will acquire the National Power Company’s 25% shareholding in the International…

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ADNOC Seeks Chinese Alliances To Triple Petrochemicals Production By 2025 Middleeast Oil and Gas 10 Jul 2018 Dr Sultan Ahmed Al Jaber, UAE minister of state and ADNOC Group CEO, held a series of meetings with Chinese oil, gas, refining and petrochemical industry leaders. The meetings focused on expanding and deepening investment and partnership opportunities…

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Aramco Considers Buying a Stake in Sabic Ahead of Planned IPO Bloomberg 19 Jul 2018 Saudi Aramco may buy shares in chemical producer Saudi Basic Industries Corp. from the country’s sovereign wealth fund as the world’s biggest crude oil exporter expands its business ahead of a planned initial public offering. The state oil producer “is…

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Polybutylene terephthalate plant of Sipchem commences production Arabian Oil and Gas 01 Jul 2018 Saudi International Petrochemical Company (Sipchem) is announced that the polybutylene terephthalate (PBT) plant, owned by Sipchem Chemical Company, an affiliate of Sipchem, commenced commercial operations today. The plant is located in Jubail Industrial City. The PBT plant performance tests were completed…

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GPCA holds R&I Committee meeting in Bahrain GPIC 04 JUN 2018 The Gulf Petrochemicals and Chemicals Association (GPCA) organized a Research and Innovation Committee meeting hosted by GPIC in its headquarters in Bahrain. GPCA Secretary General Dr. Abdulwahab Al Saadoun was present. Chairman of the GPCA’s Scientific Research and Innovation Committee Dr. Mu’ayyad bin Issa…

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ADNOC to Sign Deal with Aramco for Stake in Indian Refinery Asharq Al-Awsat 23 JUN 2018 Abu Dhabi National Oil Co (ADNOC) will sign an agreement with Saudi Aramco and Indian companies on Monday for an up to 25 percent stake in a planned $44 billion refinery and petrochemical project in India, an Indian government…