Riyadh – Mubasher: Demand on Saudi International Petrochemical Co's (Sipchem) products is expected to rise in the second quarter of 2019, given the improvement in oil prices and the return of demand from China, Sipchem’s CEO Ahmad Al-Ohali said on Wednesday.

Sipchem’s results for the fourth quarter of 2018 were negatively affected by the suspension of the firm's methanol plant operations, the top official added during an interview with Al-Arabiya.  

Al-Ohali noted that the decline in demand had a larger impact on the company’s sales than the decline in oil prices.

Sipchem reported a 75.67% year-on-year profit decline for the fourth quarter of 2018, recording SAR 40 million from SAR 164 million.