25 May 2010 06:30 [Source: ICIS news]
By Chow Bee Lin
NINGBO, China (ICIS news)--Massive petrochemical capacity additions in the Middle East have intensified competition for a slice of the Chinese market, and domestic producers are wary of losing their market share, a senior official at a Chinese think-tank said on Tuesday.
“Middle East producers have been gaining market shares in ?xml:namespace>
CNCET is a state-owned agency that provides economic and technical consulting, as well as training and information services relating to petrochemicals.
Yang was speaking at the Sino-Iran Seminar on Petrochemical Industry Investment and Trade, a one-day event held at
Iran may pose a bigger threat to domestic Chinese producers compared to the other Middle East producers like Saudi Arabia, he said.
Iranian producers were likely to export majority of their products to
Saudi Arabian producers, meanwhile, have better access to the western European markets because of their locations, negating the need to export as much volumes to
Furthermore, some recently started up petrochemical plants in
China’s main petroleum and petrochemical imports from Iran include crude oil, liquefied petroleum gas (LPG), sulphur, naphtha, fuel oil, methanol, ethylene glycol, ethylene, benzene, polyethylene (PE) and polypropylene (PP).
The Sino-Iran seminar, which provides a platform for state-owned and private companies from
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