Public Security chief launches digital vehicle plate wallet service    'Action is in our nature': 4th Saudi Green Initiative Forum to be held at COP16    Pop hit APT too distracting for South Korea's exam-stressed students    Saudi Arabia's inflation rate hits 1.9% in October, the highest in 14 months    Mohammed Al-Habib Real Estate Co. sets Guinness World Record with largest continuous concrete pour    PIF completes largest-ever accelerated bookbuild offering in MENA region    Saudi Arabia signs renewable energy program with Azerbaijan, Kazakhstan and Uzbekistan at COP29    Australia and Saudi Arabia settle for goalless draw in AFC Asian Qualifiers    Human Rights Watch accuses Israel of mass displacement in Gaza amounting to war crime    Thousands of protesters march in Paris ahead of tense football match between France and Israel    Republicans win 218 US House seats, giving Donald Trump control of government    UN sounds alarm at Israel's 'severe violations' at key buffer zone with Syria    Order vs. Morality: Lessons from New York's 1977 Blackout    Saudi, Indian foreign ministers co-chair Cooperation Committee meeting in New Delhi    South Korean actor Song Jae Lim found dead at 39    Don't sit on the toilet for more than 10 minutes, doctors warn    'Marvels of Saudi Orchestra' to dazzle audience in Tokyo on Nov. 22    Saudi Champion Saeed Al-Mouri scores notable feat in Radical World Championship in Abu Dhabi with support from Bin-Shihon Group    Rita Ora is tearful in tribute to Liam Payne at MTV Awards    France to deploy 4,000 police officers for UEFA Nations League match against Israel    Al Nassr edges past Al Riyadh with Mane's goal to move up to third    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi petrochemicals exports jump on stronger Asia demand
Published in The Saudi Gazette on 11 - 07 - 2011

Saudi Arabia's petrochemicals exports increased 39 percent by value in May from a year earlier because of higher prices and stronger demand from Asia.
The Kingdom, the holder of the world's largest oil reserves, shipped petrochemicals valued at SR4.80 billion ($1.28 billion) in May compared with SR3.45 billion a year earlier, according to data from the Department of Statistics and Information. Exports rose 26 percent on a month-to-month basis, the department reported on its website.
Petrochemicals accounted for 34 percent of Saudi Arabia's non-oil exports valued at SR13.9 billion in May. Plastics comprised 30 percent of the total, the data showed.
The Kingdom reported a 20 percent growth in petrochemicals shipments in April on higher demand from Asia.
Companies including Saudi Basic Industries Corp. (SABIC) exported 2.66 million tons of petrochemicals in April compared with 2.21 million tons in the year-ago period, the Saudi Ports Authority said on its website today. That is similar to the shipments in March and 6.4 percent higher than in February.
Saudi Arabia shipped 9.97 million metric tons of petrochemicals from its ports from January through April compared with 9.07 million tons in the year-earlier period, according to the port authority.
The Saudi petrochemicals industry is leveraging its advantages in ethane feedstock to expand its Asian markets, with exports, output and production capacity set to continue to expand in 2011.
In the first two months of 2011, Saudi Arabia's petrochemicals exports grew 6.8 percent y-o-y to 4.65 million tons. Growth was spurred on by rising demand from Asia and increased local production of ethane feedstock. A rise in ethane output was related to higher oil production with crude up 300,000b/d to 8.7 million b/d in February which resulted in increased associated gas production.
Ethane is Saudi Arabia's main petrochemicals feedstock, accounting for at least 75 percent of the total.
Saudi Arabia's petrochemicals margins were healthy in 2010. China's annual PE demand is expected to grow by 8-9 percent in 2011 down from 19 percent in 2010, but new capacity will reduce imports by up to 14 percent from the 7.4 million tons imported in 2009.


Clic here to read the story from its source.