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Saudi Aramco and Adnoc Expanding Into Chemicals Amid Asia Growth

  • Gulf companies to more than double petrochemicals output
  • Aramco, Sabic working to make chemicals directly from crude

Saudi Arabia and the emirate of Abu Dhabi plan to more than double their production of petrochemicals to cash in on growing demand.

Both Persian Gulf oil producers are prioritizing a more diverse output of petrochemicals to help wean their economies away from crude. They want to produce chemicals that are used in plastics to tap growing consumer-goods markets, particularly in Asia, and to make plastics themselves.