National Petrochemical Co

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News

11 April 2022 06:35 PM SIIG 's shareholders approve capital increase

Riyadh – Mubasher: The shareholders of Saudi Industrial Investment Group (SIIG) have agreed to raise its capital from SAR 4.50 billion to SAR 7.54 billion to acquire the entire shares of National Petrochemical Company (Petrochem). In effect, …

Management Decisions

11 April 2022 06:13 PM SIIG’s acquisition of Petrochem comes into effect

Riyadh – Mubasher: Saudi Industrial Investment Group (SIIG) has obtained the approval of National Petrochemical Company’s (Petrochem) shareholders to acquire the latter’s entire shares. Following the acquisition transaction, Petrochem’s stock has …

Mergers and Acquisitions

17 March 2022 03:30 PM CMA approves SIIG 's capital hike to acquire Petrochem

Riyadh – Mubasher: The Capital Market Authority (CMA) has given its green light for Saudi Industrial Investment Group (SIIG) to increase its capital from SAR 4.50 billion to SAR 7.54 billion for a potential acquisition. SIIG will raise its capital …

Companies Investments

26 January 2022 04:25 PM Petrochem's profits surge 494% in 2021

Riyadh – Mubasher: The net profits after Zakat and tax of National Petrochemical Company (Petrochem) hiked by 494.347% to SAR 1.367 billion in 2021 from SAR 230 million in 2020. Higher net profits are attributed to an increase in …

Financial Results

27 October 2021 04:44 PM Petrochem swings to profits in nine months

Riyadh – Mubasher: National Petrochemical Company (Petrochem) turned to net profits of SAR 1.158 billion in the first nine months of 2021, against net losses of SAR 22 million in the corresponding period in 2020.  Earnings per share amounted to …

Financial Results

28 September 2021 03:07 PM Petrochem, SIIG ink non-binding MoU on proposed merger

Riyadh – Mubasher: National Petrochemical Company (Petrochem) has entered into a non-binding Memorandum of Understanding (MOU) with Saudi Industrial Investment Group (SIIG) for a proposed merger. The proposed transaction would be conducted through …

Companies Investments

27 September 2021 10:32 AM Tadawul halts trading on Petrochem, SIIG stocks

Riyadh – Mubasher: The Saudi Exchange (Tadawul) announced suspending the trading on National Petrochemical Company’s (Petrochem) shares on Monday, 27 September, for one day. In a separate disclosure, Tadawul also announced the suspension of Saudi …

Management Decisions

4 August 2021 05:33 PM Petrochem turns profitable at SAR 914m in H1-21

Riyadh – Mubasher: National Petrochemical Company (Petrochem) achieved net profits after Zakat and tax worth SAR 914 million in the first half (H1) of 2021, against losses of SAR 139 million in H1-20. Earnings per share stood at SAR 1.9 in H1-21, …

Financial Results

21 April 2021 10:55 AM Petrochem’s shareholders approve SAR 360m dividends for 2020

Riyadh – Mubasher: The shareholders of National Petrochemical Company (Petrochem) gave the green light for distributing cash dividends worth SAR 360 million, equivalent to 7.5% of the capital, for 2020. The company will start paying SAR 0.75 per …

Board of Directors

9 March 2021 04:37 PM Petrochem's board proposes 7.5% dividends for 2020

Riyadh – Mubasher: The board of National Petrochemical Company (Petrochem) has recommended distributing cash dividends, equivalent to 7.5% of the nominal value, for 2020. The cash dividend payout stands at SAR 0.75 per share, aggregating at …

Board of Directors

31 January 2021 09:33 AM Petrochem's quarterly profit leaps 88%

Riyadh – Mubasher: The net profit of the National Petrochemical Company (Petrochem) came in at SAR 251 million during last year’s fourth quarter (Q4), up by 88.7% from SAR 133 million in the corresponding quarter in 2019. Supporting the hike in …

Financial Results

5 November 2020 09:47 AM Petrochem quarterly profit falls 31%

Riyadh – Mubasher: The National Petrochemical Company’s (Petrochem) third-quarter net profits slid by 31.58% year-on-year (YoY) to SAR 117 million as product prices of the company's subsidiaries fell.  Revenue for the July-September period of 2020 …

Financial Results

20 September 2020 09:10 AM Petrochem, SIIG in early talks for potential merger

Riyadh – Mubasher: The board of the National Petrochemical Company (Petrochem) approved to begin initial talks with the Saudi Industrial Investment Group (SIIG) to study the economic feasibility of merging the two companies. No agreement has been …

Board of Directors

26 August 2020 11:12 AM SABIC posts highest quarterly losses of Saudi petrochem sector

Riyadh – Mubasher: Combined losses of SAR 2.4 billion were achieved by Saudi listed petrochemical companies during the second quarter (Q2) of 2020 amid tumbling oil prices and setbacks from the coronavirus pandemic. This is compared to profits of …

Financial Results

27 July 2020 09:13 AM Petrochem turns to losses in Q2-20

Riyadh – Mubasher: The National Petrochemical Company (Petrochem) has incurred SAR 189 million worth of net losses after Zakat and tax during the second quarter (Q2) of 2020, against net profits of SAR 183 million in the corresponding quarter in …

Financial Results

30 April 2020 01:58 PM Petrochem’s profits down 73% in Q1-20

Riyadh – Mubasher: National Petrochemical Company (Petrochem) registered a net profit after tax and Zakat worth SAR 50 million over the first quarter (Q1) of 2020, down by 73.3% from SAR 187 million in Q1-19. Sales for the period amounted to SAR …

Financial Results

19 April 2020 11:08 AM Petrochem to distribute SAR 0.5/shr dividends

Riyadh – Mubasher: The ordinary general meeting (OGM) of National Petrochemical Company (Petrochem) has approved the board of directors’ recommendation to distribute SAR 240 million as cash dividends for 2019. Dividends will be distributed to …

Cash Dividends

9 March 2020 10:44 AM Petrochem’s unit pens SAR 3bn refinancing deal

Riyadh – Mubasher: National Petrochemical Company (Petrochem) announced that its subsidiary Saudi Polymer Company signed a refinancing agreement worth SAR 3 billion with Samba Financial Group and Riyad Bank.  The deal includes refinancing …

Banking and Finance

5 March 2020 05:54 PM Petrochem profits down 42% in 2019; plans 5% dividends

Riyadh – Mubasher: The board of National Petrochemical Company (Petrochem) has recommended the distribution of cash dividends to shareholders at SAR 240 million for last year. Dividends will be distributed at SAR 0.5 per share, representing 5% of …

Cash Dividends

28 January 2020 02:17 PM Petrochem profits decline by 42% in 2019

Riyadh – Mubasher: National Petrochemical Company (Petrochem) posted a 42.2% decrease in net profits, as shown by the company’s interim financial results for the period ending on 31 December 2019. Net profit after Zakat and tax amounted to SAR 673 …

Financial Results

28 October 2019 10:31 AM Petrochem records SAR 542m profits in 9M

Riyadh – Mubasher: National Petrochemical Company (Petrochem) announced its interim consolidated financial results for the third quarter of 2019. Net profits after zakat and tax plunged by 44.2% to SAR 171 million in Q3-19, from SAR 307 million in …

Financial Results

29 September 2019 11:16 AM Petrochem’s feedstock supplies restored to normal levels

Riyadh – Mubasher: The National Petrochemical Company (Petrochem) said that its feedstock supplies gradually improved and reached 100% of their regular levels on Thursday, 26 September. Petrochem has suffered a 40% curtailment of feedstock …

Company News

25 September 2019 10:56 AM Petrochem says subsidiary to reduce capital to SAR 1.4m

Riyadh – Mubasher: The board of directors of the National Petrochemical Company (Petrochem) approved to cut the capital of its 65% owned subsidiary, Saudi Polymers Company, during its meeting on 24 September 2019. The capital will be reduced to …

Company News

16 September 2019 11:37 AM Saudi petrochem sector to see lower Q3 earnings – Al Rajhi Research

Riyadh – Mubasher: Saudi petrochemical companies are expected to have lower production rates in the coming days after Saudi Aramco’s oil facilities at Abqaiq and Khurais have been recently attacked with drones, according to a report released by Al …

Financial Results

15 September 2019 03:45 PM Petrochem announces 40% shortage in feedstock supplies

Riyadh – Mubasher: The National Petrochemical Company (Petrochem) announced a 40% curtailment of feedstock supplies in the company’s project. Petrochem said that it is difficult to determine the financial impact at the moment, according to a …

Commodities