Saudi Arabia’s Sabic and its parent company Saudi Aramco are looking into developing a 400,000 b/d oil-to-chemicals plant at Ras al-Khair on the north-east coast. Sabic confirmed the intention in a 24 November Tadawul filing, shortly after Energy Minister Prince Abdulaziz bin Salman had announced the plan the previous day.
Saudi Aramco has a 70% stake in Sabic, and aims to expand its oil-to-chemicals capacity to 4mn b/d by around 2030, up from slightly more than 1mn b/d currently (MEES, 25 March). This week’s announcement came shortly after Aramco announced on 17 November that its 63.4% S-Oil Korean subsidiary is to develop a $7bn oil-to-chemicals facility (MEES, 18 November). (CONTINUED - 762 WORDS)