USA: Petrochemical Project in the US Gulf Sabic Eyes Exxon Mobile Venture in the US

Editor: Alexander Stark

Reuters reports that Sabic said it was studying whether to build a petrochemical complex on the US Gulf Coast with an Exxon affiliate.

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(Source: Sabic)

Riyadh/Saudi Arabia — According to Reuters, Sabic is still keen on a proposed petrochemical venture in the United States with Exxon Mobil and a preliminary investment decision could be made within months, the company's chief executive said on Thursday.

Sabic chief executive Yousef al-Benyan told Reuters on Thursday that he would travel to the United States at the end of this month to look at the proposed project.

"The outlook is still very positive...We will be working with Exxon Mobil to come up with a very strong competitive structure of this project. We are very excited about current developments with Exxon Mobil, not only the cracker but also in the downstream type of projects we are going to do." He added that his firm would probably make an announcement about the ethylene project in the second quarter of this year, though this was not certain.

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