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SABIC considers expanding Shell joint venture - ASHARQ AL-AWSAT English Archive
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JEDDAH, Saudi Arabia, (Reuters) – Petrochemical giant Saudi Basic Industries Corp is considering expansion of its SADAF joint venture with Royal Dutch Shell Plc, and the two companies plan to explore international petrochemical opportunities together, the Saudi firm said in a bourse statement on Monday.

Saudi Arabia Petrochemical Co (SADAF) is a 50/50 joint venture between SABIC and Shell.

“SABIC and Shell will jointly conduct the necessary studies…before taking a final investment decision,” the statement said.

“SABIC and Shell have also agreed to build on their strong long-term relationship to explore international petrochemical opportunities beyond SADAF and Saudi Arabia,” it added without elaborating.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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