SABIC’s Strategy Remains Stable

SABIC’s Strategy Remains Stable

Saudi Basic Industries Corp (SABIC) expects its strategy to remain on its growth track in light of the company’s acquisition by Saudi Aramco, according to the company’s CEO, Yousef al-Benyan, Zawya reported.

“There won’t be any significant financial impact and if there is it will be in Q4. In terms of production, we evaluate there will be an impact of around 400,000-500,000 tons in terms of products,” al-Benyan said.

Aramco’s drone attack was expected to affect 400,000-500,000 tons of petrochemicals products in the company’s oil facilities.

According to al-Benyan, SABIC will remain a listed firm and will have its own governance.

Aramco acquired SABIC earlier this year in a .

1 billion deal.


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