Gulf Petchems Attract Major Interest

Qatar and Saudi Arabia each have five petchems JVs with international majors: and Saudi is making it six with Aramco’s Amiral tie-up with Total.

The growing trend among the Gulf’s downstream players toward integrating petchems with refineries to maximize revenues is seeing the region’s NOCs increasingly operating across the upstream and downstream – like global petroleum majors.

And they are increasingly tapping the expertise of the oil majors, in the downstream as well as the upstream. Three of the global majors currently have Gulf petchems interests: Total and Chevron are each in four joint JVs, while ExxonMobil is a partner in two – and all of these assets are in Qatar and Saudi Arabia (see table).

Gulf firms have also looked beyond the majors for petchems expertise. Aramco brought in US firm Dow for the 3.22mn t/y Sadara chemicals complex at Jubail, while Japan’s Sumitomo was its partner in the 400,000 b/d, 4.97mn t/y Petro Rabigh integrated refinery and petchems plant. Similarly Abu Dhabi’s Adnoc partners Austria’s Borealis in the Borouge ethane cracker-based complex at Ruwais, where it plans to build the world’s largest mixed feed cracker ( MEES, 1 March ), while Dow is a partner in Kuwait’s Equate ( MEES, 8 December 2017 ). (CONTINUED - 906 WORDS)

DATA INSIDE THIS ARTICLE

table Majors' Interests In Gcc Petrochemicals Plants (Capacity '000 T/Y)