SABIC says challenges remain, views Aramco deal positively | Reuters:
Saudi Basic Industries Corp (SABIC) expects to face challenges this year due to uncertainty over the impact of a global trade war on the United States and China, its major markets, the company’s chief executive said on Sunday.
However, the world’s fourth-biggest petrochemicals company said it has the ability to deal with such challenges and started to see stabilization in prices of some products after a steep decline toward the end of 2018.
SABIC reported a 12.4 percent drop in fourth-quarter profit compared to the year earlier period, missing analyst forecasts. The company attributed the fall to lower average selling prices and a decrease in the share of results of associates.
No comments:
Post a Comment