Saudi Basic Industries Corporation (SASE:2010) (SABIC) is looking for acquisition opportunities. Mohamed al-Mady, Chief Executive Officer of Saudi Basic, said, Saudi Basic would continue to look hard at acquisition opportunities in the United States and at investing in the U.S. shale gas industry. Mady said Saudi Basic, which is 70% state-owned, would stick to its long-term strategy of focusing investments in China, North America and Saudi Arabia, to be close to raw materials or SABIC's markets.