Saudi Aramco has signed a £52.2billion deal to acquire a majority stake in petrochemicals firm Sabic from the country’s sovereign wealth fund.
Saudi Aramco signaled another potential delay for the world’s largest initial public offering after it started talks this week to buy a stake in a local petrochemical company.
Saudi Arabia's premier energy companies are planning to invest billions of dollars in their Houston-area petrochemicals operations to take advantage of cheap natural gas feedstocks from West Texas shale fields.
ExxonMobil and Sabic have picked a site in Texas for a new petrochemical complex on the US Gulf Coast.
Shell has taken a significant chunk out of its $30billion divestment plan total.
Wood Group has been awarded a new contract by petrochemical manufacturer Sabic to provide engineering design services the firm's Teesside complex in Wilton.
Saudi Arabian Oil Co. and Saudi Basic Industries Corp. are one step closer to building their first plant to process crude directly into chemicals, cutting out a link in the production chain from hydrocarbons to the finished products that go into plastics and other consumer goods.