Sabic and Sinopec sign Protocol of Cooperation
Saudi Basic Industries Corp (Sabic) signed a cooperation deal with China Petrochemical and Chemical Corp (Sinopec Group) to explore opportunities in new petrochemical projects.
Petrochemicals
Oman and UAE considering joint refinery project
UAE and Oman are discussing the possibility of jointly building a 230,000 bpd refinery in Oman, according to the UAEs economy ministry.
Regional petrochem companies see profits rise
Profits from petrochemical companies in the GCC increased 62.4 per cent YoY to US$3.57 billion in the third quarter of 2011, according to a report by Global Investment House (Global).
US$1.4 billion funding for petrochemical projects in KSA
The National Industrialization Co. (Tasnee) and Sahara Petrochemical Co. agreed a US$1.4 billion financing deal with Saudi banks to support three joint ventures: Saudi Acrylic Acid Co., Saudi Acrylic Monomers Co. and Saudi Polyolefins Co.
Impact of gas prices on Saudi petrochemical firms
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.
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