Business
Saudi Arabia’s Sabic Narrows Loss on Higher Selling Prices, Despite Lower Volumes
DOHA, Qatar-Saudi Basic Industries Corp. reported a narrower second-quarter loss helped by higher average selling prices across key products, but revenue declined on lower sales volumes.
Sabic, which ranks among the world’s largest petrochemicals manufacturers, said its net loss narrowed to 833 million Saudi riyals ($222 million) from 4.07 billion riyals in the same period a year earlier. Revenue fell to 24.81 billion riyals from 30.23 billion riyals.
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