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FINANCIAL NEWS
Kuwait placed fourth largest Arabic petchem producer
14 Dec 2011
(MENAFN) A report, issued by the Diplomatic Center for Strategic Studies ranked Kuwait fourth largest Arabic petrochemicals producer, with 6.8 percent of the total Arab production, KUNA reported.
The energy report for the month of December said that petrochemical production in the Arab world is concentrated in 13 countries headed by Saudi Arabia by 60 percent of the total production capacity.
It explained that Libya is ranked second by 11 percent, Qatar by seven percent, Kuwait by 6.8 percent, Egypt by 5.5 percent, Algeria by 4.4 percent, Iraq by 2.9 percent and Bahrain by two percent respectively.
The report added that UAE, Oman, Morocco, Syria and Jordan share the remaining petrochemicals production capacity.
The report expected GCC to contribute about 25 percent of the total global plastics industry by 2012 and increase by up to 80 percent compared to 2006.
Saudi Arabia accounts for 50 percent of the plastics industry with projected production of about 64 million tonnes annually, followed by Qatar with about 17.5 million tonnes, United Arab Emirates with about 10.4 million tonnes, Oman 8.5 million tonnes, Kuwait 6.1 million tonnes and Bahrain with about 4.2 million tonnes, according to the report.
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