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Saudi Sabic and Aramco sign deal for oil-to-chemicals project

by ChemOrbis Editorial Team -
  • 29/06/2016 (13:47)
According to media reports, Saudi Arabia’s Sabic and Aramco have signed an agreement to jointly conduct a study for development of a fully integrated crude oil-to-chemicals complex to be located in Yanbu, Saudi Arabia. The study is expected to be completed by early 2017.

Aramco reported in a statement on its official website that the parties could substantially increase Saudi Arabia’s production of petrochemicals, while enabling them to boost exports and spur industrial diversification. The companies aim to diversify the kingdom’s feedstock mix and use crude oil directly as feedstock for producing petrochemicals.

The companies also reported that they are currently studying possible investment opportunities in shale gas.
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