Petchem Firms See Earnings Rally On Increased Product Prices

GCC petrochemical companies have seen their combined earnings rally recently after a tough year, as a result of improved product prices and increased production after shutdowns, according to Kuwaiti investment company Global Investment House. Global’s latest GCC Petrochemical Sector Quarterly shows total sector first quarter 2013 earnings 7.9% down year-on-year at $2.90bn (see table).