There are conflicting reports emerging over the financial state of the kingdom of Saudi Arabia thanks to Brent price of oil sinking to below $50 a barrel.
The United Arab Emirates has become the first Gulf state to take a major step towards taming the gas-guzzling habits of its drivers, who see cheap fuel as part of their birthright.
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.
Saudi Arabia's Yanbu National Petrochemical Co (Yansab) reported a 63% fall in second-quarter net profit on Tuesday but beat analysts' forecasts slightly.
Saudi Arabia Fertilizers Co (SAFCO) posted a 6.7% drop in its second-quarter net profit on Sunday, although the earnings still beat analysts' forecasts.