Saudi petrochemicals company SABIC swings to $2 bln quarterly profit
Petrochemicals company Saudi Basic Industries Corp (SABIC) swung to a second-quarter profit of 7.64 billion riyals ($2 billion), boosted by higher sales volumes and prices as crude oil prices rose, it said on Thursday.
The company, which is majority owned by Saudi Aramco , had reported a 2.22 billion riyals loss for the same period last year, when it booked impairments of 1.18 billion riyals.
