Saudi Arabia is the most prominent producer in the global petrochemical industry.
The Kingdom holds approximately one-fifth of the world’s proven oil reserves, which is considered to be the world’s largest reserve base.
.Saudi Arabia is producing more than two-third of the total GCC petrochemical capacity, the Gulf Petrochemicals and Chemicals Association (GPCA) reported recently.
.Strong infrastructure, substantial reserves of cheaply extractable feedstock and supportive government policies help domestic producers to enjoy competitive advantage globally.
.Despite challenging market conditions, the Saudi petrochemicals sector is continuing to show strong growth.
.At the end of 2012, the sector accounted for more than 31.4 percent of the total market capitalization on the Saudi Stock Exchange, reaching at the level of SR 440 billion roughly.
.SABIC (Saudi Basic Industries Corp.) is the flagship company among 14 listed companies, representing 61.2 of the total value of petrochemical sector.
Read more: http://www.arabnews.com/economy/saudi-petchem-sector-revenue-exceeds-sr-310-bn
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