GCC petrochemicals producers face a challenge both from the North American shale boom and tight availability of gas feedstock within the region. They will have to broaden both their product range and their feedstock options.

Abundant cheap feedstock remains a “competitive advantage” for GCC petrochemicals firms, Muhammad al-Mady, CEO of Saudi state-owned petchems giant SABIC, says. But he warns that “we cannot rely solely on natural resources for our future growth… Transforming natural resources into solutions for our customers is, and will always be, the core capability.” (CONTINUED - 695 WORDS)