SABIC
Riyadh-based maker of petrochemicals, polymers and agri-nutrients, listed on the Saudi Exchange and 70% owned by Aramco. It reported SAR 116.5 billion in 2025 sales.
Industry: Petrochemicals, polymers and agri-nutrients | Location: Riyadh, Saudi Arabia | Founded: 1976
About SABIC
Saudi Basic Industries Corporation (SABIC) is a chemicals company headquartered in Riyadh, Saudi Arabia. It produces petrochemicals, polymers and agri-nutrients, and its shares trade on the Saudi Exchange under the code 2010. Aramco holds 70% of the company.
SABIC was set up by royal decree in 1976 to turn oil by-products into chemicals, polymers and fertilisers. Wikipedia records that it began operating in Europe in 2002 by buying the petrochemicals business of DSM and took a 24.99% stake in Clariant in January 2018. Abdulrahman Al-Fageeh, chief executive since 2023, retired on 1 April 2026 and was succeeded by Dr Faisal Alfaqeer, a former Aramco senior vice president and former chief executive of Sadara Chemical Company.
Wikipedia lists ethylene, polyethylene, polypropylene, polycarbonate and methanol among its products, and engineering plastics brands such as LEXAN and NORYL. Fertiliser activities sit in the separately listed subsidiary SABIC Agri-Nutrients, which reported 2025 revenue of SAR 13.08 billion.
In 2007 SABIC bought General Electric's plastics business for $11.6 billion. Aramco completed its purchase of a 70% stake from the Public Investment Fund in June 2020. In September 2026 SABIC signed a memorandum of understanding with Lenovo at LEAP 2026 on industrial development and knowledge transfer.
For 2025 SABIC reported sales of SAR 116.53 billion, down 1% on 2024, and a net loss attributable to shareholders of SAR 25.78 billion. Enterprise reported that the loss mainly reflected SAR 15.2 billion of non-cash losses on the planned European and Americas exits. TradeArabia, reporting the results on 4 March 2026, gave adjusted net income of SAR 2.1 billion and free cash flow of SAR 7.2 billion.
In January 2026 SABIC agreed two divestments with a combined enterprise value of about $950 million. Its European petrochemicals business, with plants in Teesside, Geleen, Gelsenkirchen and Genk, is being sold to AEQUITA, with closing expected in the fourth quarter of 2026 according to Argaam. The Engineering Thermoplastics business in the Americas and Europe was sold to Mutares at an enterprise value of $450 million; the sale was complete by August 2026, and the business had eight production facilities.
Leadership
- Faisal Alfaqeer, Chief Executive Officer and Executive Board Member
- Khalid Al Dabbagh, Chairman of the Board
- Salah Al Hareky, Chief Financial Officer
- Ibrahim Al-Buainain, Board Member
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