Thursday 23 October 2014
 
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petrochemical

GCC major player in $3.8 trillion petchem market

More than 10 per cent of the global petrochemical and chemical production worth over $3.8 trillion came from Gulf nations, said a top industry expert. "During 2012, the Gulf’s production capacity of petrochemicals and c

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Sipchem blames shutdowns for profit drop

Saudi International Petrochemical Company (Sipchem) blamed plant shutdowns as it reported a 13.3 per cent drop in third-quarter net profit on Tuesday that missed analysts' forecasts. Sipchem made a profit of SR160.6 million ($

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Iran to commission six petchem units by March

Iran is expected to launch six new petrochemical units by March 2015, a senior official of the National Petrochemical Company was quoted as saying. The start-up of these units will add approximately 2 million tonnes of products pe

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India's Reliance to invest $16bn in petchem expansion

India's Reliance Industries (RIL) will invest about $16 billion to expand its petrochemical production capacity and lower feed and fuel costs, a report said. RIL is investing $4.6 billion in an integrated gasification combined

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Qatar shelves major petrochemicals project

Industries Qatar, a leading petrochemical firm in the Gulf, said it had put its multi-billion-dollar Al Sejeel petrochemical complex project on hold and was studying a new scheme instead that would yield better returns. The compan

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Qatar shelves major petrochemicals project

Industries Qatar, a leading petrochemical firm in the Gulf, said it had put its multi-billion-dollar Al Sejeel petrochemical complex project on hold and was studying a new scheme instead that would yield better returns. The compan

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Saudi plastic, print expos target Western region boom

The growing demand for plastics, printing and packaging products in Saudi Arabia's Western Region will be the focus of two exhibitions which will run concurrently in Jeddah next year. Saudi Plast & Petrochem, the 12th inte

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Saudi industries receive $269bn loans

Saudi Arabia’s state-run financing agencies have so far distributed industrial loans worth SR1.01 trillion ($269 billion) to 6,751 firms in the kingdom, according to local news reports. The loans were distributed under 23 industri

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US shale boom ‘hurting Mideast petchem industry’

The increased competitiveness of the US petrochemical industry due to the discovery of large reserves of shale gas has impacted the Middle East, which is already grappling with reduced natural gas supplies, a report said. The adve

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Industries Qatar profit down 38pc

Industries Qatar (IQ) reported a 38 per cent drop in second-quarter net profit on Sunday, missing analysts' forecasts. The Gulf's second-largest chemical producer by market value made a net profit of 1.25 billion riyals ($

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