Saudi Investment in USA in Petrochemicals

[Nyogtha]

Saudi Basic Industries (SABIC) & ExxonMobil (XOM) are building a grass roots ethylene cracker on the South Texas Gulf Coast, which will undoubtably process some of the surfeit of NGL's the fracking boom has brought to market. I think I know the brownfield spot this will likely be built at : a now defunct former Fina crude oil terminal and dock facility.

http://news.exxonmobil.com/press-release...project-us-gulf

 

[L_Sludger]

SABIC is the biggest plastic company in the world. Makes you wonder.

 

[WillsYoda]

99% of plastic is made of petroleum.

 

[fields]

Ethylene plants are being built like crazy along the Gulf coast.