Saudi Arabia May Hike Feedstock Prices

The Ministry of Petroleum and Mineral Resources of Saudi Arabia is expected to implement a phased increase in the price of gas sold to domestic industrial users and to reduce the discount that is currently applied to the price of propane, analysts say. No decision has been officially announced but Saudi Arabia confirmed several years ago that it would increase the price of ethane from 75 cts/million BTU to $1.25/million BTU from 2012. A report by HSBC Global Research, published by Sriharsha Pappu, Mideast chemicals analyst, and Tarek Alarifi, Saudi Arabia...

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