Saudi petrochemicals producers have seen profitability collapse over the past year, even before Covid-19 sent oil demand into a tailspin. Soaring global petchems capacity, particularly in China, has squeezed margins.
Deteriorating market terms are forcing firms from Sabic, with its vast chain of plants and technology centers in Saudi Arabia and worldwide, down to the smallest Saudi niche producers to study their coping strategies – which may include mergers and divestments. (CONTINUED - 549 WORDS)
