Prospects for global petrochemicals: will 2003 mark the beginnings of a recovery?

摘要

Globally the petrochemical industry went through some tight housekeeping in 2003 to remain competitive under gloomy market conditions. Companies looked at low cost options in manufacturing and low crude oil prices in the early part of the year drove energy giants such as Exxon/Mobil, Elf/Total Fina and BP/Amoco to merge assets in order to increase efficiencies. Chemical companies followed suit, merging to improve operational efficiencies through integration.