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SABIC expects demand for petrochemical products to be equal to the level of 2010

March 10/2011

(Arabian Oil and Gas) -- Saudi Basic Industries Corporation (SABIC) expects demand for petrochemical products to be equal to the level of 2010, said Mohammed Al Madi, CEO of SABIC. Al Madi said that Asian and Middle Eastern markets will lead the bullish trend in the current year. For sure, Asia remains our best market. The Middle East is also doing well, he added.


The CEO of the largest petrochemicals producer in the Middle East said that soaring crude oil prices in the international markets will have an impact on petrochemical products.


Speaking about the feedstock situation in the Saudi Arabia, Al Madi said that SABIC should look for alternative feedstock sources. If we dont have enough ethane feedstocks, we should look for liquid feeds, he added.


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