Gulf Petrochemical Makers Reach $100 Billion in Annual Sales

Petrochemical makers in Arab countries of the Persian Gulf generated about $100 billion in sales last year as most of them added production capacity, a regional trade association said.

Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals company, and other producers increased their combined capacity by 14 percent to more than 116 million metric tons last year compared with 102.1 million tons in 2010, the Gulf Petrochemicals and Chemicals Association said. Saudi Arabia, Kuwait, Qatar, Oman and the United Arab Emirates all increased capacity, while Bahrain showed no change, the association said in its 2011 annual report posted today on its website.

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