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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Basic Industries Corporation    2010   SA0007879121

SAUDI BASIC INDUSTRIES CORPORATION

(2010)
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Saudi Basic Industries : SABIC) announces the latest developments of the signing of a Memorandum of Understanding with Saudi Arabian Oil Co. (Saudi Aramco)

10/21/2020 | 07:15am EST

This is in reference to the announcement made on Tadawul by Saudi Basic Industries Corporation (SABIC) on November 26, 2017, regarding the signing of a Memorandum of Understanding with Saudi Arabian Oil Co. (Saudi Aramco) to study the feasibility of developing an industrial complex to convert crude oil to chemicals (COTC).

SABIC announces the expansion of the scope of converting crude oil to chemicals project with Saudi Aramco to include existing development programs of advancing crude to chemicals technologies as well as through integrating existing facilities. This is done by taking into consideration both companies future plans and opportunities. SABIC and Saudi Aramco are looking at opportunities for integration with existing facilities to maximize the economic value while evaluating the optimal technical options and market risks.

Consequently, both parties intend to re-evaluate the scope of the Crude-Oil-to-Chemicals (COTC) complex project and study the integration of Saudi Aramco's existing refineries in Yanbu with a world-scale mixed feed steam cracker and downstream olefin derivative units.

SABIC and Saudi Aramco remain committed to continue advancing crude to chemicals technologies through existing development programs with the goal to increase cost efficiency, competitiveness and value creation opportunities for petrochemicals.

Disclaimer

SABIC - Saudi Basic Industries Corporation SJSC published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 11:14:05 UTC


© Publicnow 2020
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Financials
Sales 2020 114 B 30 377 M 30 377 M
Net income 2020 1 905 M 508 M 508 M
Net Debt 2020 9 943 M 2 651 M 2 651 M
P/E ratio 2020 180x
Yield 2020 3,43%
Capitalization 290 B 77 436 M 77 434 M
EV / Sales 2020 2,64x
EV / Sales 2021 2,32x
Nbr of Employees 35 000
Free-Float 100,0%
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Technical analysis trends SAUDI BASIC INDUSTRIES CORPORATION
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus UNDERPERFORM
Number of Analysts 13
Average target price 79,95 SAR
Last Close Price 96,80 SAR
Spread / Highest target -2,89%
Spread / Average Target -17,4%
Spread / Lowest Target -44,2%
EPS Revisions
Managers
NameTitle
Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Khalid H. Al-Dabbagh Chairman
Timothy D. Leveille Executive Vice President-Corporate Finance
Bob Maughon Executive Vice President-Technology & Innovation
Abdullah Mohammed bin Ibrahim Al-Issa Non-Executive Director
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