Saudi Aramco And SABIC Sign Oil-To-Chemicals Project Deal

Reuters

RIYADH, June 28 (Reuters) - Saudi Aramco has agreed a deal with Saudi Basic Industries Corp (SABIC) to set up a joint oil-to-chemicals project in the Red Sea city of Yanbu, Aramco's chief executive Amin Nasser said on Tuesday.

SABIC has previously said the proposed project could cost as much as $30 billion and would process petrochemicals directly from crude oil instead of first refining the oil into products such as naphtha.

It is the first time the two companies have teamed up to build a joint project in Saudi Arabia.

(Reporting by Katie Paul, editing by Louise Heavens)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
CNC Programmer
Expertise: CAD / CAM|IT - Programming & Database|Manufacturing Engineering
Location: Oklahoma City, OK
 
Senior AutoCAD Technician
Expertise: CAD / CAM
Location: Indianapolis, IN
 
United States Houston: R&D Chemist, Associate
Expertise: Chemist|Research & Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $45.54/BBL 0.70%
Light Crude Oil : $43.01/BBL 0.63%
Natural Gas : $2.929/MMBtu 1.34%
Updated in last 24 hours