Sabic Buys Out Shell From Sadaf JV For $820mn

Saudi petrochemicals giant Sabic is to buy Shell’s 50% stake in their Sadaf petrochemical joint venture for $820mn in a deal announced 22 January. Sabic says the purchase is expected to be completed before the end of 2017.

The Sadaf complex is located at Jubail on Saudi Arabia’s Gulf coast and started up in 1986. It is one of the world’s largest petchems complexes, with capacity to produce over 4mn tons/year of a variety of chemicals including ethylene, styrene, ethanol, diethyl chloride and methyl tertiary butyl ether.

Sabic and Shell had considered expanding Sadaf, but they abandoned the plan after the results of a feasibility study “were not encouraging” ( MEES, 31 October 2014 ). They had been considering adding polyol and styrene monomer propylene oxide (SMPO) units to the complex. (CONTINUED - 557 WORDS)

DATA INSIDE THIS ARTICLE

chart Oman Output Rises To 80% Of Shell’s Middle East Production (‘000 B/D)