New complex marks Saudi petrochemicals push

DHAHRAN, November 27, 2017 – Saudi Aramco and Saudi Basic Industries Corporation on Sunday signed a preliminary agreement to build the largest crude oil-to-chemicals facility in the world, worth about USD 20 billion.

This is just the start of an ambitious Saudi downstream programme, Reuters cited Aramco’s CEO Amin Nasser as saying in a Monday report.

“It’s a starting point, there will be others in the future as we develop our technologies to shift or turn more barrels of crude into chemicals,” Nasser told the agency after the signing of the MoU for the 400,000-bpd complex. “We are looking at chemicals as a very attractive market for diversification.”

The facility is expected to come on stream in 2025.

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