• 2 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 2 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 2 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 2 days Schlumberger Warns Of Moderating Investment In North America
  • 2 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 3 days British Utility Companies Brace For Major Reforms
  • 3 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 3 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 4 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 4 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 5 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 5 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 6 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 6 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 7 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 7 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 7 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 7 days Aramco Says No Plans To Shelve IPO
Are Combustion Engines Reaching Peak Demand?

Are Combustion Engines Reaching Peak Demand?

As countries announce plans to…

5 Players To Watch In The FinTech Revolution

5 Players To Watch In The FinTech Revolution

Artificial Intelligence and Blockchain tech…

Exxon, SABIC Mull Joint Petrochemical Venture on US Gulf Coast

NatGas Pipeline

ExxonMobil and Saudi Basic Industries Corp (SABIC) are evaluating the potential to build a jointly-operated petrochemical complex on the US Gulf Coast, the companies said in a statement on Monday.

ExxonMobil’s affiliate ExxonMobil Chemical Company and SABIC are assessing the potential development of such complex in either Texas or Louisiana. Should the facility be developed, it would be located close to natural gas feedstock and would have steam cracker and derivative units.

The companies will be working with the local authorities to identify the site of the future complex and will carry out the necessary studies before making any final decision on investment, Exxon said.

ExxonMobil and SABIC are assessing potential locations in Louisiana’s St. James Parish and the Parish of Ascension, and in Texas’s Victoria and San Patricio Counties, in cooperation with state and local governments, spokeswomen for both companies told Platts. The firms are seeking development for a 1.8 million mt/year ethylene plant which is expected to feed two polyethylene units and a monoethylene glycol facility, according to Platts.

The companies are currently at a very early stage in the process, ExxonMobil spokeswoman Margaret Ross said, adding that she could not speculate on a specific timeline.

Related: Bizarre Lawsuit Could Derail Elon Musk’s Hyperloop

ExxonMobil and SABIC have been working on major chemical projects in Saudi Arabia for 35 years. The potential joint complex on the US Gulf Coast would be SABIC’s debut on the North American derivatives production market.

“We are focused on geographic diversification to supply new markets,” the Saudi Arabian corporation’s vice chairman Yousef Abdullah Al-Benyan said.

ExxonMobil Chemical Company’s president Neil Chapman reckons that the potential complex would be competitive on a global scale, as expectations are that most of the chemical demand growth in the next few decades would come from developing economies.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News