The chemicals industry is the third pillar of Saudi Arabia’s industrialisation strategy
Oil’s finest hour still to come
Chemicals represent both an economic and environmental boon in the energy transition, according to Saudi Arabia’s Sabic and PIF
Saudi Aramco’s SAR259.1bn ($69.1bn) deal, completed in June 2020, to acquire a 70pc share of Saudi chemicals heavyweight Sabic from state investment vehicle the Public Investment Fund (PIF) was one of the biggest corporate transactions globally last year. For the buyer, it offered greater exposure to a key future demand for its core products. But what were the motivations for the seller and for the firm acquired? Petroleum Economist spoke to Yousef al-Benyan, vice-chairman, CEO and investment committee member at Sabic—as well as a chairman of the Gulf Petrochemicals and Chemicals Association and the Petrochemicals Manufacturers Committee—and Yazeed Alhumied, deputy governor of PIF and head o
Also in this section
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy
