Sabic mulls an oil-to-chemicals project at Yanbu

Saudi Basic Industries Corporation (SABIC) considers the establishment of a petrochemicals complex at the coastal city of Yanbu to turn oil directly into petrochemicals, said MEED.

“The project is at an early stage. It is not decided yet whether Sabic will build it alone or in partnership with third parties,” an informed source told MEED.

“The venture needs to be twice or three-times the size of the petrochemical complex fed by the gas,” added the source.

“The project needs an oil refinery and three cracking units to turn oil derivatives into petrochemicals… the total cost could reach SAR 30 billion (SAR 112.5 billion),” said MEED quoting an industry expert.”