Al Benyan: SABIC looking to expand more in China, US
In an interview with Bloomberg TV, SABIC CEO Yousef Abdullah Al Benyan stated that the company is looking to capitalise on new projects in China, as this comes in line with the government’s move to become self-sufficient in petrochemicals. Al Benyan noted that SABIC is looking at multiple investments in the US. Finally, Al Benyan was positive about 2018, noting that the recent OPEC agreements gives a strong sustainable outlook for crude oil prices.
SABIC: SAR101.06 as of 6 Dec. 2017, Rating: Neutral, TP: SAR105.00/share, MCap: USD80,848mn, SABIC AB/2010.
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