1 Day
Source:
الاقتصادية
Tensions increase stockpile, boosting Sipkim’s quarterly losses by 250%
The losses of Sahara International Petrochemical Company "Sipkim" worsened by 250% in the second quarter of 2026, reaching 592 million riyals compared to 170 million riyals in the same period last year. This was due to a decline in sales volume caused by supply chain challenges that led to inventory buildup, as well as rising prices of feedstock materials such as butane, ethylene, and propane, which negatively impacted profit margins. Additionally, losses from the company's share of investments in affiliated and joint venture companies increased due to scheduled maintenance activities. Revenues decreased by 55% to 861 million riyals despite an increase in average selling prices. On the other hand, the Saudi Ministry of Energy approved the allocation of feedstock quantities for the construction of a methanol plant in Jubail with an annual capacity of up to 1.8 million tons. This will increase the company's total production capacity by 45% and enhance operational integration to improve returns.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)