Petrochemicals

Aramco’s increase

THERE ARE MANY players both domestic and international in the field, and they learned about Saudi Aramco’s strategies for feedstock increases and the plans for industrial parks near company facilities to boost private-sector activity and private-sector jobs.

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Dow takes legal action

THE DOW CHEMICAL Company Chairman and CEO, Andrew Liveris, has said the recent decision by Dow’s partners in Kuwait to abandon the terms of its Joint Venture Formation Agreement (JVFA) will not deter the company from pursuing its strategy.

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Petrochemical companies face major test

THE CHEMICALS INDUSTRY faces a difficult period with the combined strain of plunging demand and frozen credit markets taking their toll as the global economy continues to struggle. The world's third-largest petrochemical company, LyondellBasell, recently filed for bankruptcy, while many other chemical companies have closed factories, reduced their workforces and withdrawn from deals so they can stay afloat.

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New elastomers project agreement signed

SAUDI BASIC INDUSTRIES Corporation (SABIC) and affiliates of ExxonMobil Chemical have signed a heads of agreement (HOA) and are finalising detailed studies for a new Elastomers project at their petrochemical joint ventures, Kemya and Yanpet. The agreement was signed by Mansour Al Kharboush, SABIC vicepresident, speciality products, and by Robert G. Hutchinson, vice-president chemicals, ExxonMobil Saudi Arabia Inc.

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