Middle East petrochemical sector eyes 20% growth in Q1 revenues.

By bne IntelliNews March 24, 2011
Revenues of the Middle East's petrochemical sector are expected to surge by 20% q/q to USD 15.2bn in the first quarter of 2011 mainly due to higher prices of related products, Emirates 24/7 reported citing a report by consultancy firm Global Research. The growth will be also supported by a 113% increase of production from new plants. Revenues in Q4 of last year rose by 33.4% y/y to USD 12.7bn. The sector's net profit in Q1 is expected to be by 23% higher than in the previous quarter. The increase in prices is also fuelled by rising oil prices due to the unrest in the Arab world. Global Research expects the average prices of all benchmark crude oil to remain above USD90 per barrel in Q1.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Bahrain Middle East Bank fully repays USD 13mn debt.

Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more

National Bank of Abu Dhabi launches USD 17mn Uridashi bond, MENAs first ever.

National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more

GCC economies resilient to MENA turmoil but constrains persist S&P.

The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more

Follow Us On

Most Read

  1. The models are wrong, climate change is accelerating faster than predicted
    6 days ago
  2. Russia already treating Bosnia’s Republika Srpska as an independent state
    6 days ago
  3. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    5 days ago
  4. Putinomics: Russia’s oil and gas revenue to double in April
    6 days ago
  5. Don't mention the "D" word - Ukraine
    11 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  2. Russia could pay off its entire external debt tomorrow, in cash
    1 month ago
  3. Saudi Arabia to scale back plans for Neom city
    21 days ago
  4. Iran vs Israel: Who is better equipped for war?
    18 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago

Reports

Dismiss