Middle East polyethylene capacity is expected to increase from 20.80 mtpa in 2018 to 28.52 mtpa in 2023 at an average annual growth rate (AAGR) of 6.3 per cent, according to data and analytics company GlobalData
Petrochemicals
Saudi Armaco selects UK’s Element as approved supplier
UK-based Element Materials Technology (Element), a provider in testing, inspection and certification services, has been selected as an approved supplier for Saudi Aramco, petroleum and natural gas company
Saudi Aramco to acquire stake in South Korean Hyundai Oilbank
Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), is set to purchase a 17 per cent stake in South Korea’s Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings
Iran, Iraq agree for development of joint oilfields
Bijan Zangeneh, Iranian minister of petroleum, has announced that Iran and Iraq have reached an agreement for joint development of the Naft Shahr and Khorramshahr joint oil fields
Aramco Trading signs supply deal with Poland’s refiner
Aramco Trading, Saudi Aramco’s trading subsidiary, has signed an agreement to supply Arabian crude oil to Poland’s leading refiner, PKN Orlen, in exchange for a similar volume of high sulfur fuel oil from the Polish refiner
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