With the US$69 billion acquisition of SABIC in June and investments in oil-to-chemicals technology, Aramco has positioned itself for downstream growth.
The joint venture will design, build and operate a polyacrylic acid and emulsion polymers plant in Saudi Arabia.
Alberta’s government is in talks with a private Saudi company to open a CAN$5 billion to CAN$10 billion (US$3.8 billion – US$7.6 billion) petrochemical plant.
SABIC has said the two companies are now considering the integration of Saudi Aramco’s existing refineries in Yanbu with a mixed feed steam cracker and downstream olefin derivative units.
Sumitomo Chemical and Saudi Aramco have made a loan of US$2 billion to Petro Rabigh in response to the challenging market conditions.
Among the services available will be the repair and reconditioning of reciprocating compressor valves and packing cases.
Siemens Energy is to supply 20 compression trains for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage project.
The King Salman Energy Park has reached 60% completion of its first phase and has announced foreign direct investments.