Iran has announced that they exported over US$ 9.6 billion of petrochemicals during the first eight months of the Iranian year. The total figure is expected to reach US$ 14 billion by the end of the Iranian year. During the previous Iranian year, Iran produced more than 40 million t of petrochemicals.
Orpic are to expand and retrofit the Sohar refinery. The project has gained support from the Government of Oman as it is expected to have a positive impact on the country’s polypropylene market. Orpic are investing US$ 1.5 billion in to the upgrade plans and are expecting to increase production by up to 70%.
Qatar and Shell have signed a joint venture to construct a petrochemicals complex. The facility will cost approximately US$ 6.5 billion. Qatar Petroleum will have an 80% stake in the facility, which will be based in the Ras Laffan Industrial City.
Dow Chemical Company and Saudi Aramco have decided to form a joint venture. The companies will create Sadara Chemical Company, a new global petrochemical supplier. The company will be based in Jubail Industrial City, Saudi Arabia. The company’s first production plants are expected to come online in 2015 and produce their first petrochemical products in 2016.
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