Domestic demand is helping Saudi Basic Industries Corp (SABIC) cope better than other petrochemical companies with a global recession.
However, an oil price at US$70-75 was necessary to help the kinngdom sustain investments in petrochemicals- to fund a US$400 billion public spending spree for the next 5 years.
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Tuesday, May 19, 2009
SABIC says domestic economy helping it cope
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