Saudi Arabia’s efforts to broaden its share in the global petrochemicals market since the 1990s are paying off. An early start has given the Kingdom a sturdy foothold to fend off intensifying competition from Asia, the US and Iran in the rapidly-growing segment. Market growth also supports the diversification of Saudi Arabia’s oil-centric economy and broadens the local job market – both cornerstones of the Kingdom’s Vision 2030.
Refining and petrochemical facilities of Rabigh Refining & Petrochemical Co. are seen near Jeddah on November 12, 2007. (Reuters)
Expanded PetroRabigh II
A view shows Saudi Aramco’s Wasit Gas Plant on December 8, 2014. (Reuters)