Related Articles
Forward article link
Share PDF with colleagues

Gulf NOCs bank on chemical cure

The current oil market slump validates the increasing focus of the Gulf’s main upstream producers on petrochemicals

Saudi Aramco’s acquisition of Saudi Arabian petrochemicals champion Sabic in mid-June was the culmination of a drive by major Gulf NOCs, underway for well over a decade, to build an international downstream presence. Initially, their focus was on refining—with Aramco, Kuwait’s KPC and Qatar Petroleum (QP) all now owning overseas refining capacity, overwhelmingly concentrated in fast-growing Asian economies. In the last five years, their global expansion has both stepped up a gear and shifted in focus—based on a consensus view that petchems will replace the transport sector as the primary source of incremental crude consumption by the next decade. Aramco’s on-schedule completion of the Sabic

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Russia plays catch-up
30 November 2021
The Eurasian giant has announced an aggressive decarbonisation plan while striving to relieve Europe’s power crunch
Investors unfazed by Vietnamese challenges
29 November 2021
Foreign companies are enthusiastic about Vietnam’s LNG prospects, but risks persist
Deals booming in the Haynesville
29 November 2021
Strong global gas prospects and high-quality inventory are driving a big swing in M&A activity in the basin
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video