Purple patch for Muscat’s chemicals ambition
The commissioning of Oman’s largest petrochemicals plant has coincided with Saudi Arabia’s potential rescue of an even bigger one
December may go down as a seminal moment in Oman’s long-held ambitions to create a world-scale petrochemicals industry. The government’s flagship $7bn Liwa Plastics Industries Complex (LPIC) was belatedly inaugurated by state-owned OQ at the northern industrial city of Sohar—the sultanate’s traditional downstream centre—more than doubling national polymer capacity. Potentially more importantly, and certainly more unexpected, Saudi Arabian petchems behemoth Sabic formally agreed to consider taking over the role of foreign partner on a faltering project to integrate an even larger petrochemicals facility with the greenfield refinery under construction at Duqm, a fledgling economic hub on Oman’
Also in this section
10 January 2025
New Petroleum Economist OPEC+ oil survey sees group improve compliance to ensure oil market stability going into 2025
10 January 2025
The region accounts for the biggest share in terms of capital investment in the $2t market
10 January 2025
The importance of the oil and gas sector to the UK and the value of its assets mean 2025 could offer new opportunities and a recovery in activity
9 January 2025
The disconnect between export terminals coming online and vessels being available to transport cargoes means shipping rates are not looking so good, at least in the short term