Gulf Oil and Gas accountACCOUNT

Aramco Lift Ethane Prices for Petrochemical Makers

Source: Bloomberg 6/12/2011, Location: Middle East

Saudi Aramco may start charging higher prices next year for ethane gas used to produce petrochemicals, a Saudi investment bank said in a report.

Clients such as Saudi Basic Industries Corp. (SABIC), the world’s largest petrochemical maker known as Sabic, might pay over the current price of $0.75 per million British Thermal Unit, or one thousand cubic feet, of ethane from 2012, said Al Rajhi Capital, the investment arm of Saudi’s largest lender by market value. The Riyadh-based bank did not say how much prices might rise.

Saudi Aramco, the sole producer of ethane in Saudi Arabia, will increase prices in response to anti-dumping concerns raised by European countries, as the local cost of ethane is lower than elsewhere, the bank said. Saudi Petrochemicals companies will probably continue to pay less than others outside the kingdom for ethane, according to the report. The average global market price for the gas is about $4.5 per million British Thermal Units, Al Rajhi Capital estimated.

A Dhahran, Saudi Arabia-based spokesman said he can’t comment on ethane pricing as it is set by the ministry of petroleum and minerals. Officials from the ministry were not available immediately for comment.

Petrochemicals News in Saudi Arabia >>

Saudi Arabia >>  2/6/2020 - Saipem has been awarded several EPCI contracts in various countries around the world worth over 500 million USD. The first EPCI contract has been awar...
United Arab Emirates >>  2/3/2020 - KBR has been awarded a major Project Management Consultancy (PMC) services contract by Abu Dhabi National Oil Company (ADNOC) for the Ghasha Concessio...

United Arab Emirates >>  1/27/2020 - Eni announces a gas and condensate discovery in the Mahani exploration prospect located onshore in the Area B Concession of Sharjah (UAE), which was a...
United Arab Emirates >>  1/20/2020 - SNC-Lavalin has been awarded an engineering services contract from Al Dhafra Petroleum, a joint venture company between ADNOC and the Korea National O...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.