Saudi Arabia’s SABIC to study oil-to-chemicals complex in Ras Al-Khair

SINGAPORE (ICIS)–Saudi Arabia state-owned chemicals major SABIC on Thursday announced its intention to study the establishment of a complex to convert oil and liquids into chemicals in Ras Al-Khair, Saudi Arabia.

The complex is expected to convert 400,000 bbl/day of oil into chemicals, the company said in a filing on the Saudi bourse, Tadawul.

“This project is part of SABIC’s strategic growth plans as well as contributing to the realisation of the Kingdom’s program to convert oil and its liquids into chemicals,” it said.

“SABIC also affirms its commitment to continue developing crude oil to chemicals technologies, which contributes to increasing cost efficiencies and value creation opportunities in the energy and chemical industry on a larger scale,” the company added.

The company did not provide further details or a timeline for the project.