SAUDI ARABIA

SABIC and GCC Criticize New Tariffs on Petrochemicals

The Saudi Basic Industries Corporation (SABIC) and the Gulf Cooperation Council (GCC) have issued statements criticizing the recent European Economic Community (EEC) decision to reimpose protective tariffs on Saudi petrochemicals. According to Mr. Ibrahim ibn Salamah, SABIC's Vice Chairman, the tariffs on linear low- density polyethylene, high-density polyethylene and methanol "came as a total surprise to SABIC and...