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Saudi Arabia’s Sabic Hails Exceptional 2021
...Sabic recorded earnings of $6.14bn for 2021, the highest since 2014. While Sabic may boost revenues in 2022, the firm expects profits to dip from last year’s “exceptional” highs due to rising feedstock prices. Saudi petchems giant Sabic raked in its highest profits in seven years for 2021 as...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Sabic Reports Higher Profits As It Prepares For Aramco Buy-In
...nference that the results reflect the “success of the company’s transformation initiative, which was designed to make Sabic even more competitive globally.” The 2018 net profit was the biggest since 2014’s $6.23bn, though short of 2013’s record $6.74bn. Mr Benyan says Sabic’s business transformation in...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Iraq Northern Refining Boost At Baiji
...ptember although Oil Ministry statements suggest current capacity may be as low as 47,000 b/d. The refinery had been offline since it was ransacked by Islamic State (IS) in 2014 (MEES, 26 September 2014). Because of the extensive damage to all three Baiji units (the two 70,000 b/d older Salahuddin un...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Iraq Hypes Over-Ambitious Refining, Export Capacity Targets
...ve more luck with the Fao plant given that products output is slated for the export market. The only one of Iraq’s new refineries to progress is a 140,000 b/d plant at Karbala for which a $6bn EPC contract was awarded in 2014 to a Korean consortium led by Hyundai E&C. But work here has been sporadic, wi...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Algeria’s Sonatrach Lines Up Majors For Petchems Projects
...0,000 t/y high-density polyethylene (HDPE) unit and a 410,000 t/y monoethylene glycol (MEG) unit. Talks stalled over gas prices and the gas delivery point (MEES, 19 December 2014). Sonatrach has also signed a preliminary agreement with Engineers India Ltd (EIL) for a study into rehabilitating an et...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Kuwait Refining Earnings Undermined By Weak Product Export Prices
...eraged 277,000 b/d for Q1-3 2015, up 55% on 2014’s 178,000 b/d. KNPC’s earnings from domestic sales are fixed at heavily subsidized prices. With pressure rising on Kuwait to cut subsidies, Mr Mutairi tells official news agency KUNA that the cost of refining oil in KNPC’s refineries is in the range $4-...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
EGPC Outlay On Refinery Upgrades To Top $17Bn
...raight-run Cairo Oil Refining Company (CORC) refinery, will process 107,200 b/d of residue from CORC to give lighter products including 46,300 b/d of diesel, 12,800 b/d of jet fuel, 7,600 b/d of naphtha and 2,500 b/d of LPG (MEES, 25 April 2014). Deliveries of equipment are due to begin in August. Tw...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Petchems Firms Foster ‘Made In Saudi Arabia’
...wever, extensions to the bidding deadline mean the 2014 official start-up target may be compromised. SABIC also plans to invite bids for an EPC contract to build a 200,000 t/y acrylonitrile plant at Jubail. SME Program While SABIC has opened R&D centers in China and India to support its push into la...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014