China and Indias growing demand for petrochemicals will continue to benefit the Middle East and North African (MENA) region, say analysts.
Petrochemicals
Iran's Mehr Petrochemical changing tack
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.
SABIC profits beat expectations
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 wins Egyptian contract
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.
Billion dollar acrylic deal
Saudi Petrochemical producers Sahara Petrochemical Co., National Industrialization Co., Acrylic Monomers Co. and Saudi Acrylic Acid Co. have signed agreements to start engineering, procurement, and early construction works at their US$1.07bn acrylic acid project.