Saudi Arabia’s SABIC to take over petrochemical portfolio with Aramco deal
Saudi petrochemical company SABIC is to take over the sales and marketing of about 5.4 million mt/year of Saudi Aramco’s chemicals and polymer products.
The move will center SABIC’s commercial focus on petrochemical products, while Aramco’s trading arm will center on fuel products, SABIC said April in its Q1 earnings report. As a result, SABIC said it will end up with about 900,000 mt/y of new products available for sale. SABIC will also sell benzene and MTBE to Aramco, which will be responsible for sourcing European cracker feedstock and benzene for SABIC exportations.