{"id":2131,"date":"2022-10-26T17:18:09","date_gmt":"2022-10-26T17:18:09","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=2131"},"modified":"2022-10-26T17:18:12","modified_gmt":"2022-10-26T17:18:12","slug":"saudi-advanced-petrochemicals-profits-down-37-as-raw-material-costs-bite","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/2131\/","title":{"rendered":"Saudi Advanced Petrochemical\u2019s profits down 37% as raw material costs bite"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>Saudi Arabia\u2019s Advanced Petrochemical Co. saw its profit decline by 37 percent during the first half of 2022, hit by higher raw material prices.<\/p>\n\n\n\n<p>The Jubail-based company\u2019s profit dropped to SR274 million ($73 million), compared to SR436 million for the same period a year earlier, according to a bourse filing.<\/p>\n\n\n\n<p>The decline was propelled by a rise in propane and outsourced propylene prices by 51 and 20 percent, respectively, and a decrease in profit share from its South Korean unit SK Advanced Co. by SR75 million.<\/p>\n\n\n\n<p>This was coupled with an increase of 174 percent in offshore logistics costs, despite a 24-percent higher sales volume.<\/p>\n\n\n\n<p>Sales of the Saudi-listed petrochemical producer surged to SR1.68 billion during the six-month period.<\/p>\n\n\n\n<p>In a separate announcement, Advanced Petrochemical said it will distribute a cash dividend of SR142.53 million at SR0.55 per share for the second quarter of the year on Sept. 18.&nbsp;<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2022-10-26T17:18:12+00:00\"> 26 October 2022<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"Saudi Arabia\u2019s Advanced Petrochemical Co. saw its profit decline by 37 percent during the first half of 2022, hit by higher raw material prices. The Jubail-based company\u2019s profit dropped to SR274 million ($73 million), compared to SR436 million for the same period a year earlier, according to a bourse filing. The decline was propelled by [&hellip;]","protected":false},"author":1,"featured_media":2132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,21,35],"tags":[],"services":[],"class_list":["post-2131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-petrochemical","category-topnews"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/2131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=2131"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/2131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/2132"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=2131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=2131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=2131"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=2131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}