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...
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