Petrochemicals

China and Indias growing demand for petrochemicals will continue to benefit the Middle East and North African (MENA) region, say analysts.

Irans Mehr Petrochemical may start producing grades other than film-grade high density polyethylene at its plant due to a shortage of butane-1 feedstock, according to reports.

Saudi Basic Industries Corp (Sabic), the worlds largest chemical firm by market value, beat estimates with a 46 per cent rise in third-quarter profit, buoyed by higher plastic and petrochemical sales.

Foster Wheeler AG, a global engineering and construction contractor and power equipment supplier has announced that Foster Wheeler USA Corporation, part of its Global Engineering and Construction Group, has been awarded a project management consultancy (PMC) contract by Carbon Holdings for a petrochemical complex in Ain Sokhna, Egypt with a nameplate capacity to produce 1.35 million tons per annum of polyethylene. The terms of the contract were not disclosed.