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Saudi's SABIC says can cope with more petrochemicals competition

2016-01-18 12:58:52| Chemicals - Topix.net

RIYADH: Saudi Basic Industries Corp can adapt to any new petrochemicals supply entering the market from outside the kingdom, its acting chief executive said on Monday, as Iran's release from sanctions promises increased global oil supply. Petrochemical companies in the kingdom have been struggling with falling oil prices, both as product prices are closely linked to crude and cheaper oil erodes the competitive advantage which Saudi manufacturers accrue over non-oil producing nations due to subsidised energy and feedstock.

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