VOL. XL
No. 11
17-March-1997
SAUDI ARABIA
SABIC's Net Income Falls 30% In 1996 Due To Low PetrochemicalPrices
The Saudi Basic Industries Corporation (SABIC) has reported a netincome of SR4.412bn ($1.18bn) in 1996, down 30% from SR6.281bn ($1.67bn) in 1995.Announcing the results on 10 March, the Saudi Minister of Industry and Electricity andSABIC's Chairman, Dr. Hashim `Abd Allah Yamani, attributed the decline in income to aslump in world petrochemical prices last year especially those of...
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