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Mohamed al-Mady, CEO of Saudi state-owned petchems giant SABIC, says a gas shortage is curbing the company’s growth in the Saudi market. The warning came as the company’s first quarter results showed a 1.8% slide in year-on-year net profits when analysts were predicting a rise (see table). SABIC attributes the fall to lower sales prices for some products, which outweighed higher production and sales volumes. (CONTINUED - 519 WORDS)
DATA INSIDE THIS ARTICLE
|table||Saudi Petrochemicals Company Net Profits/Losses [Sr Mn]|