Riyadh – Mubasher: Investing in petrochemicals sector in the U.S. will be important in the coming period, especially after shale oil’s revolution over the last five years, said Saudi Basic Industries Corp (SABIC) CEO Yousef Al Benyan on Wednesday.
By the beginning of 2018 and after that, the impact of higher shale oil production will appear, and this will lead SABIC to expand its operations, especially through collaboration with Exxon Mobil.
SABIC and Exxon Mobil are collaborating in one of the largest ethylene breaking units in Texas.
SABIC plans to implement some investments in the U.S., Reuters reported on Wednesday, citing Saudi Energy, Industry and Mineral Resources minister and Aramco's chairman Khalid Al-Falih as saying.
By the end of October, Al Benyan stated that the company is interested in some acquisitions in the U.S., China, and Africa.
