Saudi petchems firms are seeing profits undermined by weak products prices leading Sabic to ponder further restructuring in search of increased efficiency.

Saudi petrochemicals producers saw net profits rally strongly in the first quarter of 2016 versus Q4 2015, although profits were down by almost 5% on a year earlier (see table). Net Q1 profits for the kingdom’s 14 listed petchems firms totaled SR4.16bn ($1.12bn), down 4.8% on Q1 2015 but 127% up on Q4 2015, when shutdowns at a...