Browse
related articles
SABIC and Shell to expand partnership
- Saudi Arabia: Monday, November 12 - 2012 at 18:01
Declining oil prices weighed on the Saudi equity index Tasi, closing Monday trading off 0.80% at 6,829.53 points. Oil (WTI) fell 0.60% as investors were hit by surprise on Japan's shrinking GDP, indicating the world's third largest economy might fall into a recession. In Riyadh, market bellwether SABIC, the world's first petrochems firm, closed half a percentage point lower at SR89.75. Earlier in the day, SABIC said it will expand its partnership with Royal Dutch Shell through their Saudi Arabia Petrochemical Company (SADAF) 50/50 joint venture. "SABIC and Shell will jointly conduct the necessary studies on the SMPO (Styrene Monomer/Propylene Oxide) and polyols projects before taking a final investment decision," the firm said in a statement to the Tadawul bourse. SABIC and Shell have also agreed to build on their strong long-term relationship to explore international petrochemical opportunities beyond SADAF and Saudi Arabia, SABIC added.
Related Content
Article Options
Gérard Al-Fil, Financial JournalistMonday, November 12 - 2012 at 18:01 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
