Saudi petrochem giant SABIC Q3 net profit falls 4.5%

RIYADH: Saudi petrochemicals giant SABIC reported Sunday a 4.48 percent fall in profits for the third quarter of 2014, while its chief forecast that oil prices will recover over the long-term.  

SABIC, the largest publicly traded firm in the Gulf, said net profit for the three months up to September 30 was 6.18 billion riyals ($1.65 billion) against 6.47 billion riyals in the third quarter last year.