File Photo: The ExxonMobil Corporation logo will appear on a monitor on the floor of the New York Stock Exchange in New York on December 30, 2015.Reuters / Lucas Jackson / File Photos
September 19, 2021
Dubai (Reuters) – Saudi Basic Industry Corporation, the world’s fourth-largest petrochemical company, said on Sunday that its joint venture with ExxonMobil on the Gulf Coast of the United States has begun consignment activities and preparations for initial launch.
The project includes the establishment of an ethylene production unit with an annual production capacity of approximately 1.8 million tonnes to supply two polyethylene units and one monoethylene glycol unit, the statement said.
SABIC expects this project to have a positive impact on the consolidated financial statements after the start of commercial operation.
It supports SABIC’s strategy of diversifying its raw material sources and strengthening its presence in the production of a wide range of petrochemical products in North America.
(Report by Saeed Azhar; edited by Simon Cameron-Moore)
https://texasnewstoday.com/sabic-us-exxon-mobil-jv-preparing-for-initial-startup/466888/
2021-09-19 07:30:55Z
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