Occidental Petroleum (Oxy) has seen a rise in oil and gas production which has helped it see profits rise in Q1 2011.

Saudi Basic Industries Corp. (SABIC) and the Saudi Industrial Property Authority (Modon) signed a three-way deal recently with Boston Consulting Group (BCG) to conduct a study to develop six cities in the Kingdom.

Borouge, a leading provider of innovative plastics solutions, has awarded a contract worth US$169 million to Hyundai Engineering and Construction of South Korea to build a cross-linkable polyethylene (XLPE) unit at its petrochemical plant in Ruwais, Abu Dhabi.

Global PET packaging leader OCTAL is on track to complete the second phase of its operational expansion this year following a new round of funding from six Middle Eastern banks.

The Petrochemical Commercial Company (PCC), a subsidiary of the National Petrochemical Company (NPC), reported exporting petrochemical products worth US$7.6 billion during the first ten months of the current Iranian year (started March 21 2010).