Gulf Oil and Gas accountACCOUNT

SABIC & Exxon to Take Saudi Rubber Plant FID in July

Source: Reuters 4/25/2012, Location: Middle East

Saudi Basic Industries Corp (SABIC) and Exxon Mobil plan to make a final investment decision on their multi-billion dollar synthetic rubber project in Saudi Arabia in July, SABIC's chief executive said.

"The decision will be made in July, the tenders are out but it doesn't mean that the project is on," Mohamed al-Mady told reporters. "If the prices of bids are high, we won't proceed."

The joint Kemya project would be able to produce more than 400,000 tonnes per year of rubber and synthetic polymers for domestic and international markets.

U.S. firm Jacobs engineering and Japan's Mitsui Engineering & Shipbuilding have already been contracted to do front-end engineering and design (FEED) work for the process units of the project at Jubail on the Gulf coast.

Investment News in Saudi Arabia >>

Trinidad and Tobago >>  8/8/2019 - The BHP Board has approved US$283 million (BHP share) in funding to develop the Ruby Project in Trinidad and Tobago. Total investment for the oil and...
United States >>  8/7/2019 - Oryx Midstream Services (Oryx), the largest privately-held midstream crude operator in the Permian Basin, announced that an affiliate of Qatar Investm...

United States >>  8/1/2019 - Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, has taken the final investment decision (FID) for the PowerNap deep-water project ...
South Sudan >>  7/31/2019 - Following an open tender and a highly competitive international bidding process, the African Development Bank through its African Legal Support Facili...

Egypt >>  7/26/2019 - Egypt's Ministry of Petroleum and Mineral Wealth and Ministry of Electricity and Renewable Energy signed with the US Department of Energy a memorandum...
Libya >>  7/25/2019 - A senior delegation from National Oil Corporation (NOC) is in China at the invitation of the country’s leading oil major China National Petroleum Corp...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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

Oil & Gas Projects in Saudi Arabia >>

More News

Related Links

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