29 May 2008 13:38 [Source: ICIS news]
DUBAI (ICIS-news)--OPEC countries are investing more than $50bn in improving their downstream industries, through establishing new projects including petrochemicals, said an official from the organisation Dr Hasan Qabazard.
OPEC countries were increasing their downstream sector through the expansion of existing plants or the building of new capacities to total up to an extra 3m bpd (barrels per day) of output, said Qabazard, the director of OPEC research division, at the second luncheon of the Emirates Association for Energy Economics (EAEE) here.
Meanwhile, Dr Fatih Birol, chief economist at the International Energy Agency, emphasised the role of ?xml:namespace>
Established in 1977, the International Association for Energy Economics (IAEE) is an international non-profit professional organisation whose members include business, government, academic and other professionals concerned with energy and related issues. EAEE, the UAE affiliate of IAEE, was set up in August 2007.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|