Saudi Basic Industries Corporation Research Articles

إدارة الموارد البشرية وتأثيرها في نجاح المشاريع في الشركة السعودية للصناعات الأساسية (سابك) في المملكة العربية السعودية

The focus of the study is to explain the role of human resources management in the success of projects in the Saudi Basic Industries Corporation (SABIC) in the Kingdom of Saudi Arabia. The descriptive analytical application was used using the questionnaire study tool for a direct sample of 100 employees in the most important results: There is a relationship that has proven successful in human resources management to achieve the success of projects in the Saudi Basic Industries Corporation (SABIC) in the Kingdom of Saudi Arabia, There is a positive relationship in human resources management to achieving success in projects in the Saudi Basic Industries Corporation (SABIC) in the Kingdom of Saudi Arabia, After managing human resources in discussions and meetings related to senior levels.

Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming

Optimal financial planning plays a vital role in maintaining concentration and on the path as the organization extends, when new challenges materialize, and when unpredictable situations pounded. This study aims to develop and implement a goal programming model to evaluate financial planning based on the annual financial report of Saudi Basic Industries Corporation (SABIC), which assisted it in developing the financial planning model. This study is mainly designed to analyze SABIC’s budgeting structure; therefore, in order to maximize the benefits from the whole budget, goal programming is implemented for the entire budget. As a result of this study, we identified the following objectives as specific: reduced expenses, increased revenue, increased net profit, increased fixed assets, reduced debt, and increased equity share participation as a result of this project. Moreover, the analysis involved determining whether all objectives were met at the end of the study. Consequently, this study will benefit industrial institutions in achieving their financial objectives.

Smart Robotic Strategies and Advice for Stock Trading Using Deep Transformer Reinforcement Learning

The many success stories of reinforcement learning (RL) and deep learning (DL) techniques have raised interest in their use for detecting patterns and generating constant profits from financial markets. In this paper, we combine deep reinforcement learning (DRL) with a transformer network to develop a decision transformer architecture for online trading. We use data from the Saudi Stock Exchange (Tadawul), one of the largest liquid stock exchanges globally. Specifically, we use the indices of four firms: Saudi Telecom Company, Al-Rajihi Banking and Investment, Saudi Electricity Company, and Saudi Basic Industries Corporation. To ensure the robustness and risk management of the proposed model, we consider seven reward functions: the Sortino ratio, cumulative returns, annual volatility, omega, the Calmar ratio, max drawdown, and normal reward without any risk adjustments. Our proposed DRL-based model provided the highest average increase in the net worth of Saudi Telecom Company, Saudi Electricity Company, Saudi Basic Industries Corporation, and Al-Rajihi Banking and Investment at 21.54%, 18.54%, 17%, and 19.36%, respectively. The Sortino ratio, cumulative returns, and annual volatility were found to be the best-performing reward functions. This work makes significant contributions to trading regarding long-term investment and profit goals.

Development and implementation of a process safety competency development program (PSCDP) for process safety engineers: A unique collaboration between industry (SABIC) and academia (MKOPSC)

Process Safety Competencies are demonstrable knowledge,skills,behaviors and attitudes required to perform process safety related jobs. They are critical to the successful implementation of any process safety management program in the process industry.This paper shares the experience of the collaboration between a major multinational chemical manufacturing company, Saudi Basic Industries Corporation (SABIC) and an academic institution, the Mary Kay O'Connor Process Safety Center (MKOPSC) of Texas A&M University at Qatar (TAMU-Q) for the development and implementation of a comprehensive and long-term Process Safety Competency Development Program (PSCDP) for SABIC process safety engineers. It outlines the fundamental guiding principles and mechanism for building the PSCDP and provides a description of the structure and content of the program as well as its implementation in the 2017–2021 period. The preliminary results and impact of the program on the trainee engineers at SABIC are highlighted along with the benefit of engaging in such a program for both the company and the academic institution.

Saudi Aramco Privatization in Perspective: Financial Analysis and Future Implications

This study analyzes a prime example of corporate restructuring and financial engineering through a detailed analysis of Saudi Aramco's bond and equity financing program which started April 1, 2019. The key steps involved in the ongoing privatization of Aramco, the world’s largest integrated national oil company, via additional major initial public offerings (IPO) in 2021, are explained - including the 2020 acquisition of Saudi Basic Industries Corporation (SABIC). The coupled corporate restructurings of both SABIC and Aramco are visualized in a number of concise diagrams which highlight the impending changes in the appropriation of capital inflows and outflows. The 2020 SABIC acquisition, and 2021 IPO will cause major changes in Aramco’s corporate equity and debt financing, which will be reflected in its financial statements (balance sheet, cash flow account and income statement). We explain what will be the associated accounting shifts and make forward projections for Aramco's financial performance over the next decade, based on certain assumptions of market development and likely debt and equity financing scenarios. Cash flows generated by Aramco for the Saudi Government, before and after the corporate restructuring, are also analyzed in some detail. While the current focus of Aramco’s privatization is on short-term value creation, we argue that the company is also poised for a new global leadership role. The potential impact on the global energy supply system is highlighted, including possible future developments in Aramco’s role as the global oil swing supplier.

Interview with Gino Francato

Reinforced Plastics spoke with Gino Francato from SABIC (Saudi Basic Industries Corporation) about composites manufacturing and current trends in the composite industry.

China, Saudi Arabia pledge collaboration

The heads of Saudi Basic Industries Corp. (SABIC) and Saudi Aramco signed agreements with Chinese refining and chemical firms during a visit to China with a delegation led by Saudi King Salman bin Abdulaziz. SABIC and Sinopec agreed to study an unspecified Chinese investment in Saudi Arabia and to consider additional investments in their petrochemical joint venture in Tianjin, China. Aramco and Sinopec will continue to study building a coal-to-chemicals complex in Ningxia Province. Aramco and China North Industries will explore a refinery and petrochemical joint venture. And Aramco agreed to study a reinforced plastics investment with the Chinese firm Aerosun.

Mapping and Benchmarking Technological Innovation of Three International Petrochemical Companies

Mapping technological innovation in organizations is one of the important activities that help companies to identify where organizations are clustering their innovation efforts, and where their unexplored innovation spaces are. Current published innovation mapping models do not take into consideration the comparison and benchmarking between organizations in one model. The objectives of this paper are to map innovation in three international petrochemical companies: Gulf Petrochemical Industries Company (GPIC), Saudi Basic Industries Corporation (SABIC), and Dow Chemical; compare and benchmark the results; and explore the possible areas for their innovation opportunities. An innovation mapping model was developed. Innovation data covering three years (2010-2012), were collected, analyzed and mapped on the model. The results showed that the three companies introduced a total of 194 innovations; 53% by Dow Chemical, 38% by SABIC and 9% by GPIC. Product innovations were the dominant type as they presented 57% of total innovations, where 54% of these were introduced by Dow Chemical, 46% by SABIC, and none by GPIC. Position and paradigm innovations were the least innovation type produced, where only 3% of the total innovations were in position and 1% in paradigm. The results also showed that multi-dimensional innovation represented 23.7% of total innovations, where 67.5% of these were produced by Dow Chemical, 28% by SABIC, and only 4.5% by GPIC. Product-process innovations represented 50% of the total multi-dimensional innovations. During this period only 5.7% of the total innovations were radical innovations; these were all introduced by Dow Chemical. The benchmarking results showed that product innovation was the strength in SABIC; process innovation was the strength in GPIC; and product, radical, product-position, process-position and product-paradigm were the strengths in Dow Chemical. For GPIC there are possible innovation opportunities in product, product-process and process-position innovations; for Dow Chemical and SABIC, in the process area. There are possible opportunities in radical innovation in GPIC and SABIC and plenty of innovation opportunities in the position and paradigm areas for the three companies.

SABIC considers Chinese project

Saudi Basic Industries Corp. (SABIC) and China’s Shenhua Ningxia Coal Industry Group will study construction of a coal-to-chemicals plant in China’s Ningxia Hui coal-producing region. The companies plan to assess the project for three years and submit an application to the government. China has 5 million metric tons per year of coal-to-olefins capacity, according to the consulting firm IHS Chemical; another 15 million metric tons are being planned. SABIC says it hopes to diversify feedstocks away from Saudi natural gas and become closer to Chinese customers.

PETRONAS, SABIC HAVE BIG PLANS

MALAYSIAN STATE-OWNED oil refi ner Petronas plans to build a $20 billion oil refinery and petrochemical complex in the state of Johor. And Saudi Basic Industries Corp. (SABIC) is going ahead with a...

DEAL FEVER STRIKES JAPAN

MITSUBISHI RAYON and Mitsubishi Chemical have formed separate joint ventures, the former with Saudi Basic Industries Corp. (SABIC) and the latter with two other Japanese firms. But overshadowing both deals are reports emerging from Japan that Mitsubishi Chemical is in talks to acquire Mitsubishi Rayon. Mitsubishi Rayon and SABIC have agreed in principle to a joint venture that will build a $1 billion methyl methacrylate (MMA) complex in Saudi Arabia. The 50-50 venture will use an ethylene-based MMA process developed by Lucite International, a British company that Mitsubishi Rayon finished acquiring in June for $1.6 billion. MMA has traditionally been manufactured by reacting hydrocyanic acid with isobutylene. Lucite’s process, in contrast, uses the cheaper raw materials ethylene, methanol, and carbon monoxide. Last fall, the company started up a 120,000-metric-ton-per-year MMA plant in Singapore that represents the first commercial application of the new technology. Soon after, Mitsubishi Rayon, itself a ...

FIRST THE KINGDOM, THEN THE WORLD

SAUDI BASIC Industries Corp. (SABIC) is the company that every petrochemical firm wants to imitate. But SABIC aspires to be something more than just a producer of commodity chemicals. It wants to become a diversified global chemical company on the order of Dow Chemical or BASF. As it stands, SABIC is the most profitable chemical company in the world: It racked up $8.4 billion in operating profits on chemical sales of $19.7 billion in 2006. Dow and BASF, the world’s top two chemical manufacturers, made only about half that much in profit last year, and they are two-and-a-half-times bigger than SABIC. But SABIC is hardly complacent. It is using its gargantuan earnings to spur more growth. Earlier this year, the company purchased storied engineering polymers producer GE Plastics for $11.6 billion and renamed it SABIC Innovative Plastics. While it continues to expand its core commodity chemicals business, SABIC is also investing in specialty chemicals ...

A DONE DEAL

ONLY THREE MONTHS after first unveiling the deal, Saudi Basic Industries Corp. (SABIC) has completed its purchase of GE Plastics for $11.6 billion. The business, renamed SABIC Innovative Plastics, makes engineering polymers such as polycarbonate, acrylonitrile-butadiene-styrene, polyphenylene oxide, and polybutylene terephthalate. It earned $674 million last year on sales of $6.7 billion. The deal is a departure for SABIC, which traditionally focused on making commodity chemicals and fertilizers out of low-cost Saudi Arabian methane and ethane. In recent years, the company branched out geographically by acquiring European petrochemical businesses from DSM and Huntsman Corp. Today, SABIC is the 11th largest chemical company in the world, on the basis of 2006 chemical sales of $19.7 billion. It earned an operating profit of $8.4 billion during the same period, the chemical industry's largest. Brian T. Gladden, the new CEO of SABIC Innovative Plastics, says the plastics unit and SABIC will enjoy synergies. ...

Huntsman Selling European Petrochemicals

Huntsman Corp. has signed an agreement to sell its European petrochemical business to Saudi Basic Industries Corp. (SABIC) for $700 million in cash. The transaction will also lower Huntsman's pension liabilities by $126 million. The sale, expected to be completed by the end of the year, is a big step in Huntsman's previously announced plan to exit the commodity chemical business and focus on differentiated products, according to CEO Peter R. Huntsman. The company recently sold its Texas-based butadiene business and wants to sell its other U.S. commodity assets by the end of the year. Huntsman acquired its European petrochemical business in 1999 from ICI, which at the time was shifting its own portfolio toward more specialized products. The U.K.-based business had sales last year of $2.5 billion and includes an 865,000-metric-ton-per-year ethylene cracker and an aromatics facility. Not included in the sale are Huntsman's British titanium dioxide and polyurethane intermediates plants, which it also ...

Samsung wins Petrokemya butene-1 contract

Arabian Petrochemical Co (PETROKEMYA), a wholly owned affiliate of Saudi Basic Industries Corp (SABIC) has awarded a lump-sum turnkey contract to Korea’s Samsung Engineering Co for the engineering, procurement and construction of a third Butene-1 plant. This is a short news story only. Visit www.worldpumps.com for the latest pump industry news.

Samsung wins petrokemya butene-1 contract

Arabian Petrochemical Co (PETROKEMYA), a wholly owned affiliate of Saudi Basic Industries Corp (SABIC) has awarded a lump-sum turnkey contract to Korea’s Samsung Engineering Co for the engineering, procurement and construction of a third Butene-1 plant. Visit www.filtsep.com for the latest filtration industry news

Development of Polypropylene-Based Ultraviolet-Stabilized Formulations for Harsh Environments

This work reports the outdoor weathering performance of ultraviolet (UV)-stabilized polypropylene (PP) products (using PP resins from Saudi Basic Industries Corporation [SABIC]). Different hindered amine light stabilizers (HALS) were used to stabilize PP-film-based formulations that were exposed for 10 months in harsh outdoor weather of Dhahran, Saudi Arabia. Characterization of the exposed PP film products was done in terms of mechanical and Fourier transform infrared (FTIR) spectroscopic properties. HALS are a very effective light stabilizer for polyolefins.[14–16] They do not act by absorbing UV radiation, but by inhibiting degradation of the polymer, which has started the formation of free radicals. They function by scavenging radicals. HALS has low volatility and high extraction resistance. The effectiveness of HALS is independent of product thickness. Another advantage is that it provides a significant level of stabilization at relatively low concentration.[18] Some important types of high molecular weight HALS are Chimassorb 944 and Tinuvin 622, and a low molecular weight HALS is Tinuvin 770. These HALS, together with other UV stabilizers, are commonly used in polyolefin stabilization. The PP film formulations were divided into five categories based on the type of HALS incorporated. This was done to derive meaningful comparison of the various film formulations. The characterization data are presented for an exposure period of 10 months. The unstabilized PP films were degraded within 2.5 months of the exposure period. The performance in terms of decrease in mechanical properties and FTIR spectroscopic properties was assessed as a result of natural weathering for UV-stabilized samples. Following outdoor weathering trials, the lifetimes of certain formulations were determined. On the basis of the FTIR spectroscopic properties, it was determined that generally, the HALS-stabilized PP film formulations delayed the formation of oxidation products including esters, carbonyls, and trans-vinylenes.

SUPPLY AND DEMAND OF LIGHT NAPHTHA AS POTENTIAL PETROCHEMICAL FEEDSTOCK IN SAUDI ARABIA

ABSTRACT Saudi Arabia is a major crude oil producer and exporter. Additionally, with the completion of its master gas gathering and treatment system petrochemical industries became the Kingdom's second major industrial sector. Currently, the Saudi petrochemical industry depends mainly on (C1) methane and (C2) ethane components of associated gas (AG) and natural gas (NG) as feedstocks. A variety of basic petrochemicals are now being produced principally by plants of the Saudi Basic Industries Corporation (SABIC). There is a necessity of enhancing the use of various under-utilized hydrocarbon resources. At present, one of the favored under-utilized resources and potential candidates for upgrading is light naphtha (LN). Because LN has the advantage of producing a more diverse petrochemical product portfolio than C1 and C2 components, it is expected that LN will assume an increasing importance as feedstock in the future development of petrochemical industries in Saudi Arabia. However, industrial opportunities for economies of large-scale production of petrochemicals based on LN might not be favored. Saudi Arabia's chemical and petrochemical industrial sector has not yet been fully developed, and its production lines are not enough diversified to benefit from LN. The development and expansion of Saudi petrochemical industries usually follows the international trend in this sector, and benefits from its technological achievements. Worldwide global shift in the use of feedstock in this industrial sector will be reflected in the Saudi petrochemical industries. As the world trend is to maximize the utilization of under-utilized petroleum resources, one would expect optimization of LN utilization in Saudi Arabia in the near future.

Technology Transfer in Developing Nations

OVERVIEW:Saudi Basic Industries Corporation (SABIC) has been able to convert the natural gas associated with crude oil production into value-added chemicals that form the raw materials for an extensive range of industrial and consumer products. The development of these products depends upon SABIC's selecting the most effective technologies available to profitably adapt the Kingdom's industrial potential to the realities of the world market. This article reviews the methodology and criteria used by SABIC to evaluate these technologies. Hopefully, the experience that SABIC has gained over the last 23 years will benefit other developing nations.

'NEW' SABIC ADAPTS TO CHANGING WORLD

It is the largest producer of bulk chemicals in the Middle East and one of the largest in the world, but Saudi Basic Industries Corp. (SABIC) is still only a vague presence outside its direct circle of customers and competitors. That situation is beginning to change, however. External forces such as changing oil economics and market demands are forcing the Saudi Arabian company to raise the scrim separating SABIC and the outside world, to become more transparent in its international dealings. This October, at Kunststoffe '98, the international plastics fair held every three years in Dusseldorf, Germany, SABIC will present its new corporate identity. The company won't discuss specifics at this point, but it does say the new identity will emphasize SABIC's growing global presence. Indeed, global business contributed heavily to the company's total sales, which in 1997 were $6.41 billion. That total— which includes fertilizers, plastics, and metals—earned it a spot in the top 20 ...