SABIC signed a joint venture project with ExxonMobil in the U.S. Gulf Coast. The project involves an ethylene production unit and has begun commercial operations. The company announced plans on Sept. 19 to establish an ethylene production unit with annual capacity of about 1.8 million tonnes, SABIC said in a bourse statement. The unit will feed two polyethylene production units. This commercial deal outlines the increasing economic trend that is taking over the Gulf region: the rise of active competitiveness in the petrochemical sector. Pet-chem has found itself becoming increasingly competitive with regards to Iraq and KSA, while Iran is expected to join the race soon too.
- Saudi Arabia’s SABIC launches U.S. Gulf Coast project with ExxonMobil