S.Arabia and Russia sign major deals on petchem cooperation
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Saudi King Salman has concluded several multi-billion dollar agreements on possible cooperation and investment activities between Saudi Arabia and Russia during his visit to Moscow.
The two countries announced the establishment of a new energy investment platform according to a statement from Russian Direct Investment Fund (RDIF). The new agreement between Sibur, RDIF, the Saudi Arabia’s investment fund (PIF) and state-owned Saudi Aramco launches a collaboration on potential petrochemical cooperation and investment activities, including marketing of petrochemical products. The agreement, which is worth $1billion, will also reportedly allow Russia to expand in the Middle East market.
A similar agreement has also been signed between SIBUR, Saudi Aramco and SABIC.
An agreement of collaboration between LITASCO and Saudi Aramco was among the other fourteen memorandums of understanding inked during this visit. According to a statement from the company’s website, the new agreement will allow Saudi Arabia to access to Mediterranean and Red Sea through LITASCO, which functions as the trading arm of Russian Lukoil.
The two countries announced the establishment of a new energy investment platform according to a statement from Russian Direct Investment Fund (RDIF). The new agreement between Sibur, RDIF, the Saudi Arabia’s investment fund (PIF) and state-owned Saudi Aramco launches a collaboration on potential petrochemical cooperation and investment activities, including marketing of petrochemical products. The agreement, which is worth $1billion, will also reportedly allow Russia to expand in the Middle East market.
A similar agreement has also been signed between SIBUR, Saudi Aramco and SABIC.
An agreement of collaboration between LITASCO and Saudi Aramco was among the other fourteen memorandums of understanding inked during this visit. According to a statement from the company’s website, the new agreement will allow Saudi Arabia to access to Mediterranean and Red Sea through LITASCO, which functions as the trading arm of Russian Lukoil.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Bearish PP trend takes no respite on lackluster demand in Turkey
- India import PVC market recedes from all-time high on COVID-hit demand
- Stats: China’s total PP, PE imports in Q1 mark lowest volume in a year
- Vietnamese PE buyers hold off purchases on fears of further price pullback
- European PS on brink of a softer trend after 6 months
- Turkish PP and PE players voice bearish expectations for May
- China’s local homo-PP prices slide below imports
- Irregular PE origins emerge at competitive prices in Europe
- Mid-Eastern sellers backpedal in Africa on competitive PP, PE offers from Asia
- European PVC set to extend longest rising streak into May
