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Regions :: Middle East :: Saudi Arabia

GCC Petrochemicals Production Capacity Grows 13.5%

5:07 AM MDT | June 20, 2012 | Natasha Alperowicz

Petrochemical production capacity in the Gulf Cooperation Council (GCC) states grew by 13.5% last year, the Gulf Petrochemicals and Chemicals Association (GPCA) says. Production rose to close to 116 million m.t./year in 2011, compared with 102 million m.t./year in 2010. The increase follows major capacity additions across the region, GPCA says.   Saudi Arabia accounted for more than half the $100 billion sales generated by the GCC petchems sector with Sabic posting revenues of $50.6 billion and net profit of $7.8 billion. 2011 marked a year of consolidation...

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