Mideast: GCC dominance faces US challenge

A shortage of feedstocks in the Gulf Cooperation Council (GCC) states is transforming the region’s petrochemicals industry, shifting the balance downstream toward value-added industries. The United States, meanwhile, with its abundant availability of low-cost shale ethane, could regain its status as the leading global exporter of petrochemicals. Europe will likely become a battleground between exports from North America and the Mideast in this emerging scenario. A scarcity of petrochemical feedstocks, particularly ethane, in the GCC states has caused most...

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