SAUDI ARABIA

 

SABIC Confirms Oil-To-Chemicals Development Plan

 

Saudi state petrochemicals giant SABIC has plans to build the world’s first oil-to-chemicals (OTC) plant. SABIC chief executive Mohamed al-Mady says “the OTC complex will set a new competitive standard, and establish Saudi Arabia as a technology leader in the petrochemical industry. OTC technology allows for the conversion of crude oil to petrochemicals products…in a competitive and sustainable...