Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, reported a 4.5% drop in second-quarter net profit on Sunday, a much smaller decline than analysts had forecast.
Russia is in talks with Iran for supplies of petrochemical products in exchange for assets as part of their barter deal, an official in Tehran has said.
Saudi Arabia's Yanbu National Petrochemical Co (Yansab) reported a 63% fall in second-quarter net profit on Tuesday but beat analysts' forecasts slightly.
Iran has worked out a “special plan” for exports of petrochemical products to the US, secretary of the Association of Petrochemical Industry Corporations (AIPC) Ahmad Mahdavi said on Monday
Iran has achieved technical know-how for production of catalysts used by isomerization units of oil refineries, putting an end to the United States’ monopoly in the field.
Saudi Basic Industries Corp (SABIC) said on Sunday it had completed the formation of a joint venture with Korean petrochemical manufacturer SK Global Chemical Co to produce polyethylene products.