Saudi Petchems Profits Fall 21% In Q3 Due To Weaker Sales Prices

Saudi Arabia’s petrochemical producers reported total net profits of SR6.63bn ($1.77bn) for the third quarter of 2015, which was 21% lower than for the second quarter and 30% down on the same quarter in 2014. Lower selling prices for products were commonly blamed in quarterly results announced on the Saudi Stock Exchange (Tadawul) over the last two weeks.

Sabic, the world’s second largest diversified...