As Saudi Aramco’s 6mn tons/year specialty petrochemicals capacity program gathers momentum, the state petroleum giant is casting its eyes eastwards with a view to securing market share. Although some of the products from two giant plants under development at Jubail and Rabigh will be directed towards local plastics converters, the bulk of the output will be Asia-bound.
Asia already accounts for two-thirds of Saudi Aramco’s oil exports, so it is not surprising that the company envisages an Asian bias in its petrochemicals business. The lever for the big petrochemicals push will be its Aramco Asia Company subsidiary, which comprises three units – Aramco Far East Business Services Company Ltd, Aramco Asia Japan Company and Aramco Asia Korea Company — with offices in Beijing, Tokyo and Seoul, respectively. (CONTINUED - 566 WORDS)