HomeNewsSABIC and Saudi Aramco are reevaluating their plans for the upcoming Yanbu COTC project

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SABIC and Saudi Aramco are reevaluating their plans for the upcoming Yanbu COTC project

10/19/2020

SABIC recently announced that it was reevaluating and likely expanding its vision for the crude oil-to-chemicals (COTC) project in Yanbu, Saudi Arabia with the integration of existing infrastructure. The company stated to the Saudi stock exchange that it plans to expand this project alongside Saudi Aramco “to include existing development programs of advancing crude to chemicals technologies as well as through integrating existing facilities” as a means of maximizing value in the face of current market risks.  Earlier this year, Aramco purchased a 70% stake in SABIC and since then both companies have significantly reduced its capex plans due to the COVID-19 impact. The Yanbu COTC project wa

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