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Saudi Arabia’s 14 exchange-listed petrochemicals firms reported total net profits of SR22.95bn ($6.12bn) for 2016, an increase of 8% from 2015’s SR21.25bn ($5.67bn).
Nevertheless, their combined net profits were still 33% lower than for 2014, when high crude oil prices supported linked petrochemicals prices until their late-year crash (see table 1 & chart).
Likewise, while the sector’s combined market capitalization rose 21% over the course of 2016 it remains below end-2014 levels – by more than a third for some companies (see table 2).
SABIC UNDER PRESSURE…
One company, state giant Sabic, dominates the sector: its end-2016 market cap of SR274.5bn ($73.2bn) is almost double the SR141bn of the other 13 firms put together. (CONTINUED - 753 WORDS)
DATA INSIDE THIS ARTICLE
|table||Saudi Petrochemicals Sector Net Profits Edge Up On 2015 But Still A Third Down On 2014 (Sr Mn*)|
|chart||Saudi Petchem Sector Net Profits (Sr Bn)|
|table||Saudi Petchems Firms Market Cap (Sr Bn, End Period)|