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Company News, Business, Energy

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

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The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

GAS, SPPC ink two contracts

The contracts are expected to reflect positively on the company's results in 2024 and 2025. (Wikipedia)
March 3, 2024 7:59 pm
  • The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines.
  • The first contract is valued at $90 million (SAR341.09 million), while the second is worth $68 million (SAR256.1 million).

ABU DHABI, UAE – Gas Arabian Services Co. (GAS) signed on Sunday two contracts worth US$159 million (SAR598 million), exclusive of VAT, with Saudi Power Procurement Co. (SPPC), according to a filing to Tadawul.

The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines, the company said, adding that the duration for each contract is 22 months.

The first contract is valued at US$90 million (SAR341.09 million), while the second is worth US$ SAR256.1 million.

The contracts are expected to reflect positively on the company’s results in 2024 and 2025.

There are no related parties to the deal, the statement said.

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