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YANSABYanbu National Petrochemical Company (Yanbu Industrial City, Saudi Arabia)
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Moreover, SAFCO owns 3.87% share in the capital of Arabian Industrial Fibers Company (IBN RUSHD) and 1.69% in the capital of Yanbu National Petrochemical Company (YANSAB).
Yanbu National Petrochemical Company ended at 47.60 Saudi Riyals, down 4.74 per cent, while Mobile Telecommunications Company Saudi Arabia ended 3.38 per cent lower at 7.15 Saudi Riyals.
Referring to the performance of the firms during the last nine months, the report said that 11 companies out of 14 listed firms registered growth in their profits while two, notably Sahara Petrochemical Company (Sahara) and Yanbu National Petrochemical Company (Yansab), have their profits dropped, the report said.
DUBAI: Saudi Arabia's Yanbu National Petrochemical Company (Yansab) missed the average forecast of analysts as it posted a 16.7 per cent decline in first-quarter net profit yesterday, citing lower prices for some of its products.
Also, another Saudi firm Yanbu National Petrochemical Company has recommended the distribution of dividends worth SR562.5 million to the shareholders for the period at a rate of SR1.
Overall, the performance of regional petrochemical companies was mixed on a QoQ basis with SABIC (Saudi Basic Industries Corp.), IQ (Industries Qatar), YANSAB (Yanbu National Petrochemical Company), Sahara Petrochemical, Shell Oman, Petro Rabigh and Dana Gas reporting better than expected earnings while other stocks such as Saudi Kayan Petrochemical Co., SAFCO (Saudi Arabia Fertilizers Co.), TASNEE (National Industrialization Co.), Sipchem (Saudi International Petrochemical Co.) and Nama Chemicals Co.
Yanbu National Petrochemical Company (Yansab) is a Saudi Joint Stock Company.
Yanbu National Petrochemical Company's (Yansab) first-quarter net profit more than doubled due to higher product prices, beating analysts' forecasts.
Sabic benefited from higher production after adding new capacity under its Saudi-based affiliates Yanbu National Petrochemical Company (Yansab) and Sharq, and under its Tianjin joint venture with Sinopec.
Since then in March, Yanbu National Petrochemical Company (Yansab) began commercial production at its 4 mtpy plant.
Dubai, 18 Sept: Saudi Basic Industries Corporation (Sabic) affiliate, Yanbu National Petrochemical Company (Yansab) has made its first export shipment of ethylene glycol from its new petrochemical venture in Saudi Arabia, Yansab said in a statement.