14 October 2009 16:17 [Source: ICIS news]
PRAGUE (ICIS news)--Governments in central and eastern Europe (CEE) are likely to step in to save ailing petrochemical industries if they require large-scale state assistance, a senior Czech offical said on Wednesday.
"It is highly probable that the states would do their best to save their strategic petrochemical assets, the way they have done in the automobile sector,“ Michael Mares, secretary to the Czech Ministry of Foreign Affairs Ambassador for Energy Security, told an industry conference.
Petrochemical industries were typically threatened by recession-hit demand and over-dependence on Russian crude oil for feedstock, he said.
Various scenarios could see feedstock supply reduced or cut off in the future, Mares told the World Refining Association's annual CEE Refining and Petrochemicals Conference.
CEE countries should continue work to interconnect pipeline systems that sourced oil from countries other than Russia, he added.To discuss issues facing the chemical industry go to ICIS connect
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|