VOL. XXXVI

NO. 24

15-MARCH-1993

SAUDI ARABIA

SABIC's 1992 Profit Dips 15%

The Saudi Basic Industries Corporation (SABIC) announced last week a 14.6%decline in net profit to SR1.964bn ($524mn) from SR2.3bn ($613mn) in 1991. TheSaudi Minister of Industry and Electricity and SABIC's Chairman Mr. 'Abd al-'Azizal-Zamil, attributed the poor results to "the continued drop in the pricesof petrochemicals internationally, a surplus in energy and the imbalance betweensupply and demand." The decline in profit...