Sipchem shows positive market outlook for 2022

Logo of Sahara International Petrochemical Co. (Sipchem)

Sahara International Petrochemical Co. (Sipchem) shows positive market expectations this year.

“Product prices remain strong as robust demand and higher feedstock/energy costs continue to put upward price pressures,” the company said in an investor call.

The company is in best position to shift additional volumes to Europe to full the supply void.

Sipchem is able to minimize the impact of supply chain disruption by active engagement with logistics partners, additional storage hubs to cut voyage times and obtaining premium services for important routes.
 

Meanwhile, the increase in the logistics costs due to supply chain disruption was mitigated by improved product prices, the company added.
 

Sipchem’s Q1 2022 net profit after Zakat and tax jumped to SAR 1.078 billion, from SAR 411.5 million in the prior-year period, Argaam reported.