GCC petrochemical companies have seen their combined earnings rally recently after a tough year, as a result of improved product prices and increased production after shutdowns, according to Kuwaiti investment company Global Investment House. Global’s latest GCC Petrochemical Sector Quarterly shows total sector first quarter 2013 earnings 7.9% down year-on-year at $2.90bn (see table).

However, on a quarter-on-quarter basis earnings rose by 12.3%, led by Saudi Basic Industries Corporation (SABIC), Industries Qatar (IQ), Dana Gas and Saudi Arabia’s National Industrialization Company (Tasnee). (CONTINUED - 516 WORDS)