SAUDI ARABIA
 
SABIC Sales Down, Looks To Bolster US Interests
 
Saudi Basic Industries Corporation (SABIC) has reported a quarterly decline in profits, with chief executive Muhammad al-Mady blaming the economic slowdown in Europe and China. With the company already planning to restructure its European operations, including the shutdown of some plants, Mr Mady reiterated to reporters in Riyadh on 20 July the company’s interest in joining the US shale gas boom as a...