The enormous buildup of capacity under way in the countries of the Gulf Cooperation Council (GCC)—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE)—will lead to a “challenging” short-term environment for petrochemical producers worldwide, says Mohamed H. Al-Mady, CEO of Sabic and the first chairman of the Gulf Petrochemicals and Chemicals Association (GPCA; Dubai). Al-Mady made the remarks in an opening address at GPCA’s first annual meeting, held last month in Dubai, and attended by about 400 delegates...
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