Qatar Petroleum (QP) and Royal Dutch Shell signed a preliminary agreement to construct a US$6 billion petrochemical plant in Ras Laffan Industrial City in Qatar.
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Production levels at the Gulf Petrochemical Industries Company (GPIC) hit record highs in 2010.
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China and India's growing demand for petrochemicals will continue to benefit the Middle East and North African (MENA) region, say analysts.
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Iran's 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.
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Saudi Basic Industries Corp (Sabic), the world's 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.
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