Aramco, Dow Chemical to form petrochemical JV

12 October 2011: Aramco and US Dow Chemical have agreed to form a $20bn petrochemical joint venture (JV) in Jubail. The move is in line with plans aimed at balancing its energy portfolio by increasing exposure to downstream industries and maximising profits from existing oil and gas streams. The state-run firm is considering building three new joint venture refineries in Asia in order to increase its global refining capacity by 50 per cent to over 6m barrels per day (bpd).

Source: Ameinfo