Al-Morished: Oil prices drop does not affect the petrochemical sector

21/10/2014 Argaam

“The Company future results depend on the market & feedstock prices and the drop in oil prices was at the end of the third quarter and did not affect the performance of the petrochemical sector”, Mr. Mutlaq H. Al-Morished, Saudi Kayan Chairman of the Board said.
 

He added in a phone call with “CNBC” that oil prices can not affect the petrochemical sector unless it drops for two or three consecutive quarters.


According to data available on “Argaam”, Saudi Kayan reported a net profit of SAR 66.9 million in Q3-2014.

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