Saudi Gazette - Saudi petrochem companies ‘attractively valued’: Al Rajhi:
"Barring few bright spots, economic conditions worldwide remained downcast, which resulted in subdued demand for petrochemical products in Q2, Al Rajhi Capital said in its “Saudi Petrochemical Sector” report this month.
It said product prices moved south toward pre-maintenance levels as companies restarted operations. “We expect product prices to remain range bound during H2 2013 on account of demand uncertainty. However, we expect Saudi producers to perform better compared to global peers on the back of feedstock cost advantage and strong fundamentals. We believe companies with broad product portfolio can weather the challenges better than pure-play producers,” Al Rajhi sad.
It further noted that “despite near term headwinds, petrochemical companies are attractively valued compared to global peers as well as domestic sectors in Saudi Arabia such as retail.”"
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