Fawaz Al-Fawaz, CEO of National Industrialization Co. (Tasnee)
Fawaz Al-Fawaz, CEO of National Industrialization Co. (Tasnee), said 2026 will be difficult for petrochemical producers amid global economic and geopolitical uncertainty, as supply is set to exceed demand more than expected due to new capacity additions and rising exports from China. 
In an interview with Asharq TV Bloomberg, Al-Fawaz said the market may need about six months to rebalance supply and demand, adding that he is optimistic about improved conditions for the petrochemicals sector in 2027.
He said overall operational performance remains solid in terms of operations, safety and production despite pricing pressures, noting that some plants in Europe and parts of Asia have started to shut down or cut output.
Al-Fawaz said Tasnee is focused on commitments, reliability, safety and production, while improving efficiency and maintaining cost discipline and capacity utilization, supported by governance frameworks that drive continuous improvement.
He added that the board-approved strategy prioritizes expanding the petrochemicals business, noting that gas allocation from the Ministry of Energy will allow the company to double output over the next five years, while also growing its titanium segment.
Al-Fawaz said the company restructured the Acrylic Complex loans in 2025 with commercial banks and the Saudi Industrial Development Fund (SIDF) and is working to complete the restructuring of the remaining facilities.
On dividends, he said payouts remain important, but the company is balancing debt reduction, balance sheet strength and profit maximization, with the board set to decide the appropriate approach.
Fawaz Al-Fawaz, CEO of National Industrialization Co. (Tasnee)
Fawaz Al-Fawaz, CEO of National Industrialization Co. (Tasnee), said 2026 will be difficult for petrochemical producers amid global economic and geopolitical uncertainty, as supply is set to exceed demand more than expected due to new capacity additions and rising exports from China.
In an interview with Asharq TV Bloomberg, Al-Fawaz said the market may need about six months to rebalance supply and demand, adding that he is optimistic about improved conditions for the petrochemicals sector in 2027.
He said overall operational performance remains solid in terms of operations, safety and production despite pricing pressures, noting that some plants in Europe and parts of Asia have started to shut down or cut output.
Al-Fawaz said Tasnee is focused on commitments, reliability, safety and production, while improving efficiency and maintaining cost discipline and capacity utilization, supported by governance frameworks that drive continuous improvement.
He added that the board-approved strategy prioritizes expanding the petrochemicals business, noting that gas allocation from the Ministry of Energy will allow the company to double output over the next five years, while also growing its titanium segment.
Al-Fawaz said the company restructured the Acrylic Complex loans in 2025 with commercial banks and the Saudi Industrial Development Fund (SIDF) and is working to complete the restructuring of the remaining facilities.
On dividends, he said payouts remain important, but the company is balancing debt reduction, balance sheet strength and profit maximization, with the board set to decide the appropriate approach.
