SAUDI ARABIA

Saudi Petchems Firms Double Profits In Q2

Combined earnings from Saudi Arabia’s 14 Tadawul-listed petrochemicals companies almost doubled to SR8.42bn ($2.25bn) in the second quarter of this year compared SR4.37bn ($1.17bn) for the first quarter mainly due to higher average selling prices of products, and an increase in both production and sales volumes.

Global petchems giant Sabic saw its earnings rebound to SR6.17bn ($1.65bn) in Q2 2015, after slumping to just SR3.93bn...