Media: SABIC seeks to diversify its feedstocks
The Saudi government recently raised gas prices to $1.75/MMBtu for ethane and to $1.25/MMBtu for methane, bringing gas prices in Saudi Arabia close to the level prevailing in the US. Saudi Arabia had previously maintained a fixed price of $0.75/MMBtu for gas feedstocks but is moving to restrict subsidies in the face of falling government revenues owing to a slump in oil prices.
The company had previously said that tightness in ethane gas in Saudi Arabia was limiting opportunities for domestic growth and pushing the company to look at foreign investment opportunities. SABIC signed a deal to import US shale gas to its Teesside petrochemical plant in the UK.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PE market on brink of new drops for December
- Signs of optimism in China PP and PE markets, but caution remains
- Egypt’s import PP, PE markets flat but domestic prices turn upwards in Nov
- PVC downturn enters 7th month, prices still far from pre-pandemic levels in Europe
- Aggressive US PE offers make a scene across global markets in Q4 after a hiatus of 2 years
- SEA cracker outages and lack of deep-sea cargoes underpin olefin prices in Asia
- US origin hammers import PVC prices into Asia
- China PE markets stay bearish with import prices below new thresholds
- Oil producers boast record Q3 earnings but chemical margins under pressure
- Aggressive imports, long supplies weigh on Europe’s ABS markets