Oil prices have dropped by more than half since last June as output around the world has soared while demand growth has slowed.
Sipchem made a profit of 132.4 million riyals ($35.28 million) in the last quarter of 2014.
The specified amount is slightly higher than the usual volumes that the company buys, a Singapore-based trader said.
Access Infra Africa plans to invest over $500 million in renewable power assets in Africa over the next three years.
SABIC’s chief executive Mohamed al-Mady told reporters that the outlook for 2015 was unpredictable and contingent on oil prices.
The company earned SAR4.36 billion ($1.16 billion) in the last quarter, a statement said.
The Emirates will fund solar-powered projects in the Marshall Islands, Nauru, Palau, and the Solomon Islands through its $50m renewable energy fund.
For the whole of 2015, the IEA raised its estimate of the demand for OPEC crude by 300,000 bpd to 29.2 million bpd.
The proposed expansion would boost the capacity of the Sitra refinery by 100,000 barrels per day, BAPCO’s CEO said.
There were no casualties and limited damage was caused, state news agency KUNA said.
Industry sources in Qatar said that the country was still studying the possibility of investing in Venezuela’s energy, real estate and tourism sectors.
OPEC forecast demand for the group’s oil will drop to 28.78 million barrels per day (bpd) in 2015.
The project has a net power capacity of 200 MW and is the largest utility scale solar plant in the world to be tendered in a single phase
The company did not specify where the shipment was headed to.
A consortium of Saudi Arabia’s ACWA Power and Spain’s TSK had been selected as the preferred bidder to build the 200MW solar power plant.
Solar projects having capacity to produce up to 1,800 megawatts of power are to be awarded over the next 12 months in the region.
Oil prices have collapsed about 60 per cent in the last six months.
The current price fall affects Kuwait and other oil-producing countries, KUNA said, citing Ali al-Omair as telling parliament.
Prices quoted by companies to build the huge complex showed the project was “commercially unfeasible, a joint statement said.
Last September, Dana said it had signed a deal with Egypt that would help it recover most of the money it was owed.
Oil tumbled five per cent on Tuesday, with global benchmark Brent briefly trading at par to U.S. prices for the first time in three months.
They discussed global oil markets and cooperation on energy and environmental issues, climate change and solar energy use.
The minister did not specify how the new laws would work, but said details would be released soon.
The price of natural gas sold to industrial users will be unified and raised gradually from April 1, BNA said.
Iranian president said that oil producers such as Saudi Arabia and Kuwait will suffer more than Iran from the falling oil prices.
UAE Oil Minister Suhail bin Mohammed al-Mazroui said on Tuesday that OPEC’s decision in November not to cut output had been right.
Brent crude dropped four per cent to below $46 a barrel following a five per cent plunge on Monday.
Emirates Nuclear Energy Corporation (ENEC) completes the concrete dome for the Unit 1 Reactor Containment Building.
Under the deal, both companies will implement a development plan to create a portfolio of power assets in Africa worth over $500 million.
Both Brent and U.S. crude are at their weakest since April 2009 and have fallen for seven straight weeks.