Aramco adopts integration strategy to stabilize oil, petchem prices: Official

Ali Al-Meshari, Senior Vice President of Technology, Oversight & Coordination

Aramco is adopting a strategy of integration between the oil and chemicals industries to mitigate the impact of oil price fluctuations on petrochemical prices, Al Eqtisadiah newspaper reported, citing Senior Vice President of Technology, Oversight, and Coordination, Ali Al-Meshari.

Al-Meshari explained that the integration between the two businesses enables the company to face challenges while ensuring the continuity of projects and maximizing revenues.

He went on to say that Aramco’s entry into the petrochemical sector aligns with its strategy to maximize value from every hydrocarbon molecule it produces, moving beyond merely exporting crude oil or refining it.

Al-Meshari also emphasized that the oil and petrochemical industries are complementary, unlocking the full potential of hydrocarbon resources.

He added that East Asia, particularly China, is the most significant market for Aramco’s investments, as Beijing is a key partner due to its advanced technologies, robust production capacity, and competitive manufacturing costs.