Riyadh-Mubasher: The second-quarter combined earnings of Saudi petrochemical sector declined 9% year-on-year from SAR 9.2 billion to SAR 8.4 billion.

The sector’s earnings also dropped 31% to SAR 12.8 billion, compared with SAR 18.5 billion in the year-ago period.

Petro Rabigh recorded historical earnings in the second quarter, soaring 194% on improved refining margins.

Sahara’s earnings fell 94% on weak sales and low product prices.

Kayan recorded a 391% rise in H1 losses on shutdown of most plants for regular maintenance.

Meanwhile, Nama Chemical narrowed H1 losses by 43%.

The sector’s combined earnings for Q2 and H1 were hurt by SABIC’s profits which were down 4% and 22%, respectively on low average sale prices.

Translated by Abdul Maguid Aboshahla