State petroleum firm Aramco and state led petchems firm Sabic have confirmed that Yanbu on the Saudi Red Sea coast will be the location of their planned $20bn crude oil to chemicals (COTC) project. While much of Saudi Arabia’s petrochemical capacity has been built at Jubail on the Gulf coast, the partners had Yanbu in mind when they signed an MoU for joint development of the project, although they were considering other options, with proximity to market a key factor (MEES, 1 December...