Saudi Arabia’s petroleum and petrochemicals behemoths Saudi Aramco and Sabic have abandoned plans to develop oil-to-chemicals process technology separately in favor of a cooperative approach, recent reports indicate.
The two firms are studying a plan to build a joint plant that would produce chemical products directly from crude oil, according to Bloomberg, which cites two sources with knowledge of the talks. The firms themselves declined to comment. (CONTINUED - 801 WORDS)
