Saudi Arabia’s SABIC and US ExxonMobil consider petchem JV
The project reportedly will be on the United States’ Gulf Coast, in Texas or Louisiana, and will house an ethylene production facility which will provide feedstock to other units to produce ethylene derivatives.
SABIC did not give further details regarding the name of ExxonMobil’s affiliate as well as the financial value of the project. Before giving a final decision, the parties will conduct studies and confer with state and local officials to identify a potential site for the project.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PVC downturn persists in China’s local market despite bullish imports
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months