Petchems giant Sabic expects increased feedstock costs to offset higher 2022 sales

Saudi Basic Industries Corp., the biggest petrochemicals producer in the Middle East and 70% owned by Saudi Aramco, expects increased feedstock costs in 2022 to offset higher sales volumes as global economic growth slows. The company’s first-quarter petrochemicals revenue rose 35% year on year and 3% from Q4 2021 to Riyal 44.28 billion ($11.8 billion), Sabic said in a statement….