SABIC, Yokogawa Sign Strategic Collaboration Agreement

Saudi Basic Industries Corporation (SABIC) announced that it has entered into a strategic alliance framework agreement to accelerate collaboration with Yokogawa Electric Corporation. The agreement includes selection of Yokogawa as a preferred supplier of control systems. Under this alliance agreement, Yokogawa will promote localization in Saudi Arabia, and its integrated control systems and safety instrumented … Read more SABIC, Yokogawa Sign Strategic Collaboration Agreement

SAFCO Acquires SABIC’s Agri-Nutrients Unit

The Saudi Arabian Fertiliser Company (SAFCO) agreed to acquire a unit of Saudi Basic Industries Corporation (SABIC) to improve growth and look for new markets, the company said on Wednesday. SAFCO will acquire 100% of SABIC Agri Nutrients Investment Company, which is valued at 4.59 billion Saudi riyals ($1.2 billion) by way of an increase … Read more SAFCO Acquires SABIC’s Agri-Nutrients Unit

Sabic to Invest in Methanol Plant in Russian Far East

Sabic (Saudi Basic Industries Corporation) signed a preliminary agreement with the state-controlled Russian Direct Investment Fund and Moscow-based ESN Group for a potential investment in a methanol plant in the Russian Far East, as the Middle East’s biggest petrochemicals producer looks to expand its international footprint. The agreement, part of a broad range of pacts … Read more Sabic to Invest in Methanol Plant in Russian Far East

Clariant, Sabic Talks on Specialties JV Collapse, Clariant to Divest Masterbatches

Clariant and SABIC have agreed to temporarily suspend the discussions on the intended business combination High Performance Materials (HPM), consisting of Clariant’s Additives and high value Masterbatches and parts of SABIC’s Specialties business. The JV talks with Saudi Basic Industries (SABIC) had been shelved due to differences over price, which comes as a further setback … Read more Clariant, Sabic Talks on Specialties JV Collapse, Clariant to Divest Masterbatches

Air Liquide Signs $140M Supply Agreement with ExxonMobil-Sabic JV and will Build New ASU

Air Liquide has signed a long-term agreement with Gulf Coast Growth Ventures (GCGV), a 50/50 joint venture between ExxonMobil and SABIC, to supply oxygen and nitrogen from its industrial gas pipeline network to GCGV’s planned ethane cracker facility located near Corpus Christi, in Texas. To support the new agreement and additional volumes, Air Liquide plans … Read more Air Liquide Signs $140M Supply Agreement with ExxonMobil-Sabic JV and will Build New ASU

Saudi Aramco to Acquire Majority Stake in SABIC

Saudi Aramco, Saudi Arabia’s state-controlled Oil  & Gas giant has reached a $69.1 billion deal to purchase a majority stake in petrochemicals firm Sabic from the kingdom’s sovereign wealth fund. The deal will see Aramco buy the 70 percent stake in Sabic held in a share purchase agreement by the Public Investment Fund (PIF) of … Read more Saudi Aramco to Acquire Majority Stake in SABIC

SABIC Plans to Merge Two of its Fully-owned Subsidiaries

Saudi Basic Industries Corporation (SABIC) intends to combine its two wholly owned subsidiaries, the Saudi Petrochemical Company (SADAF) and the Arabian Petrochemical Company (PETROKEMYA). The petrochemical giant said in a market report on Wednesday that SADAF will be fully merged into PETROKEMYA on the basis of the valuation set out in its latest financial statements. … Read more SABIC Plans to Merge Two of its Fully-owned Subsidiaries

Eni and SABIC will Jointly Develop Natural Gas Conversion Tech to Produce Fuels and Chemicals

Eni and SABIC have signed a Joint Development Agreement to further develop an innovative technology for natural gas conversion into synthesis gas that can be further transformed into high value fuels and chemicals, such as methanol. The partnership will involve, among other activities, the construction of an Industrial Demonstration Plant that will be built and … Read more Eni and SABIC will Jointly Develop Natural Gas Conversion Tech to Produce Fuels and Chemicals