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Algeria’s Tiguentourine gas plant ready for full production

  REUTERS Algeria’s Tiguentourine gas plant is ready to come fully back online for the first time since a deadly militant attack in 2013, General Manager Kamel Aoues said on Saturday. “Full production is for the coming days, all tests have been passed successfully,” Aoues told Reuters during a press visit to the site. The plant, 1,600 km (995 miles) ...

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Saudi Kayan swings to Q2 net profit

  REUTERS Saudi Kayan Petrochemical Co. swung to a net profit in the second quarter, ending a run of five straight quarterly losses, benefiting from low feedstock costs. The company, an affiliate of Saudi Basic Industries Corp (SABIC), made a net profit of 91.02 million riyals ($24.27 million) in the three months to June 30, it said in a bourse ...

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SAFCO extends earnings slump as Q2 profit halves

REUTERS Saudi Arabia Fertilizers Co (SAFCO) met analyst forecasts but extended its earnings slump, as its second-quarter net profit halved year on year as product prices remained low. SAFCO, a unit of Saudi Basic Industries Corp, made a net profit of 299 million riyals ($79.7 million) in the three months to June 30, compared with the 596 million riyals it ...

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