Sidi Kerir Petrochemicals (Sidpec) has earned a net income of EGP 151.7 mn in Q1 2021 against a net loss of about EGP 31.3 million in Q1 2020, according to a press release.
Net sales jumped by 38% compared to Q1 2020, recording EGP 1.3 billion. The company stated that it sold about 8,103 tons of ethylene during the quarter, indicating an increase of 119% compared to Q1 2020. Meanwhile, the company’s polyethylene sales dropped by 12% during the quarter, selling only 46,389 tons.
Sidpec also sold about 9,049 tons of butane to the Egyptian Natural Gas Company (GASCO), and about 2,017 tons of naphtha to Alexandria National Refining and Petrochemicals Company (ANRPC) in Q1 2021.