The chemicals sector is facing repercussions from an overcapacity in production that has led to a decline in profit margins and utilization rates. Saudi Basic Industries Corporation (SABIC) announced on Wednesday a massive net loss in 2025, primarily due to asset write-downs and losses related to asset liquidation in Europe and the Americas. The company also announced the appointment of a new CEO. Abdurrahman bin Saleh Al-Faqih, the outgoing CEO, told reporters that SABIC's factories have not yet been negatively impacted in terms of safety, as Iran continues to launch brazen attacks on countries in the region in response to US and Israeli strikes. SABIC's shares rose by more than
