Sabic’s bottom line has been boosted by higher oil prices. But further corporate cost-cutting is needed. Overseas expansion continues with the firm paying $2.5bn for 25% Swiss specialty chemicals firm Clariant.

Sabic chief executive Yusuf al-Binyan is “optimistic” about the company’s outlook for 2018, after “an increase in oil prices reflected positively on petrochemical prices” in 2017.

However, the company will look to cut operating costs by 5-7% in...