SABIC: GAS LIMITING
Petrochemicals giant Saudi Basic Industries Corp (SABIC) is finding it very hard to grow within Saudi Arabia because of a shortage of natural gas, its chief executive said on Sunday.
Mohamed al-Mady was speaking to reporters after the company reported that net profit slipped 1.8 percent from a year earlier in the first quarter of this year as lower product prices offset rises in production and sales volumes.
"The shortage of gas and many sectors competing for it have made internal expansion very hard," Mady said.
However, he noted that SABIC had…
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