GPCA 2019: Emphasizing partnerships Sabic CEO,Oman energy minister keynote this year's forum

摘要

Speakers at this year's Gulf Petrochemicals and Chemicals Association(GPCA)annual forum noted that the global and Middle Eastern industries are in transition.The conference drew 2,083 delegates from 50 countries.Yousef al-Benyan,CEO of Sabic,in the opening address,noted changes in the industry landscape and challenging conditions in 2019."The impact of current volatility has been evident in most recent company results,including my own,"he said.Worldwide GDP growth rates are nearing a decade low,he said."In a very short time,the fundamentals have shifted from synchronized acceleration in late 2018 to synchronized deceleration in 2019...The surge in trade-policy uncertainty is estimated to have lowered US capital spending and real GDP by $100 billion,"he said.The growing focus on sustainability and the circular economy is also changing the market landscape,he added.