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FINANCIAL NEWS
Saudi Aramco to triple chemicals output by 2030
29 Nov 2016
(MENAFN) Saudi Aramco plans to triple its chemicals production to 34mn metric tons per year by 2030, while it is predicted to grow from 12mn to 34mn metric tons.
Moreover, over the same period the firm”s global refining capacity will rise to 8-10mn barrels per day (bpd) from more than 5mn bpd recently.
In addition, developing petrochemicals is part of the Saudi Vision 2030 economic reform plan, which aims to spread the economy away from oil.
The company has been integrating its refineries with petrochemical infrastructure as it develops its downstream business and spreads its trading of refined products.
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