According to a report from Business Monitor Index (BMI), the Indian petrochemicals sector will continue to surge in 2013 as the market is expected to become increasingly self sufficient and producers in India are benefitting from a weak rupee. BMI reported that India’s demand for polymers is expected to increase at a pace of 10% during 2013 – 2014.
The first phase of the Ilam Petrochemical Complex is due to be inaugurated in the very near future. The project was started in 2005 with an investment of over US$ 650 million. When complete the plant will have a processing capacity of 580 000 tpy.
During 2012, Kuwait produced around 6% of the world’s total petrochemical production and was fourth within the GCC region in the production listing. Saudi Arabia was first with 68% and Qatar and Oman produced 13% each.
The Sadara Chemical Company’s new petrochemical complex will be the biggest of its kind and will transform the Middle East’s petrochemicals sector. The complex is a joint venture between Saudi Arabian Oil Company and the Dow Chemical Company and is to be integrated in to the Jubail Industrial City. The plant will cost approximately US$ 20 billion.
From 27th August until 4th October, Shell Chemicals is taking feedstock bids for ethane from Marcellus Shale operators. The feedstock will be for processing in the proposed Beaver County petrochemical plant, Pennsylvania. This bidding process is to secure additional feedstock than the already planned supply from Shell Western Exploration and Production Inc.
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