Saudi petrochemicals giant SABIC has cut its planned investment spending for 2026 by as much as $700 million, as it becomes more selective about where its money goes.
The company now expects to invest $3 billion to $3.3 billion this year, down from its earlier target of $3.5 billion to $4 billion.
During its latest earnings call, management said the reduction reflects tighter investment priorities and a more disciplined approach to spending, while keeping essential operations and growth projects on track.
Behind the numbers: SABIC returned to profit in Q3, earning SR499 million ($133 million), after recording a loss in the previous quarter.
Revenue also rose 14% from Q2.
But the company remains in the red for the year, with a net loss of SR320 million over the first nine months.
Sources: SABIC's third-quarter 2026 results and earnings call.
