Saudi Aramco & SABIC to explore joint crude oil-to-chemicals project in Saudi Arabia

摘要

Saudi state oil giant Saudi Aramco and Saudi Basic Industries Corp (SABIC) have inked a deal to conduct a feasibility study to build their first joint project in the kingdom to be completed early next year. The study will look at the development of a fully integrated crude oil-to-chemicals (OTC) complex to be located in Saudi Arabia. The project is in line with Saudi Arabia's efforts to reduce dependence on crude export revenues. Other benefits would be lower costs than those associated with traditional refining methods while reducing the heavy burden of using gas to create petrochemicals at a time when the kingdom is suffering from gas supply constraints.