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Petrochem profits jump almost fivefold amid sector-wide boom

RIYADH: Saudi-listed National Petrochemical Co., better known as Petrochem, saw its profits surge almost fivefold in 2021. As the Kingdom’s chemical sector grew, profits of the homegrown firm hit SR1.4 billion ($370 million), compared to SR230 million a year earlier. The company attributed the hike in profits to higher product prices and drops in Zakat expenses, according to a ....

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