A new NCB Capital report looks at the impact of changing gas prices which could rise from US$0.75/mmbtu to US$1.5/mmbtu at the start of 2012 on the local petrochemical companies in Saudi Arabia.

Qurain Petrochemical Industries Co (QPIC) plans to develop a petrochemical plant, expected to cost more than $1 billion and located in Jubail, Saudi's petrochemicals hub.

According to a study released by AlixPartners - the Gulf Cooperation Council (GCC) chemicals sector is strong but it faces numerous challenges and regional companies must adapt to new feedstock options and changing markets.

Drake & Scull Water and Power (DSWP), a wholly owned subsidiary of Drake & Scull International, secured a US$38.5mn Construction Contract of a Mining Grade Ammonium Nitrate Plant in the province of Ain Sukhna in Egypt.

Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry of the State of Qatar, and Peter Voser, Chief Executive Officer of Shell, signed the Heads of Agreement that sets the scope and commercial principles for the development of a world-scale petrochemicals complex in Ras Laffan Industrial City, Qatar.