Saudi Arabia's SABIC sees slowdown in 2020

 The CEO of Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals firm, said he expects a slowdown in 2020, although it was too early to determine the impact of the outbreak of China’s coronavirus on demand.

SABIC had not suspended travel or taken any other measures because of the virus, Yousef al-Benyan said at a news briefing following the company’s publication of its financial results.

“We haven’t had any ban in terms of trade or travel to China so far,” he added.

SABIC reported a fourth-quarter net loss of 720 million riyals ($191.94 million), the first quarterly loss in over a decade, due to lower average selling prices and a writedown at an affiliate.

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