United Arab Emirates Petrochemicals Report Q1 2012

Tuesday, Jan 31, 2012

Research and Markets has announced the addition of the "United Arab Emirates Petrochemicals Report Q1 2012" report to their offering.

“United Arab Emirates Petrochemicals Report Q1 2012”

United Arab Emirates Petrochemicals Report provides industry professionals and strategists, corporate analysts, petrochemical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on United Arab Emirates's petrochemicals industry.

The UAE is set to witness a further surge in petrochemicals capacities over the next five years as it becomes a major supplier to the Chinese market, according to BMI's latest UAE Petrochemicals Report. The success of Abu Dhabi's massive Borouge complex is confirmed in Borealis' recently published financial results, which showed that the company made EUR98mn in net profits from the joint venture in Q311. The plant was therefore unaffected by the soft patch in European demand and the overall global market nervousness that led to a narrowing of polyolefins margins. Borouge's strength, compared to the performance of European operations, underlines the growing importance of competitive Middle Eastern production for the balance sheets of majors. Even though the UAE's petrochemicals sector is more dependent on less competitive naphtha feedstock than ethane-fed facilities in Qatar and Saudi Arabia, it has continued to thrive utilising its supplies.

The second phase of the Borouge complex at Ruwais, Abu Dhabi, began production in mid-2010 with a 540,000tpa PE unit coming onstream in July. In Q410, an olefins conversion unit producing 752,000tpa of propylene, together with 50,000tpa of propylene delivered from Adnoc's refinery, began supplying the two Borstar PP units with combined capacity of 800,000tpa. Borouge 2 will triple Borouge's polyolefins capacity to 2mn tpa when it becomes fully operational by mid-2011. An additional 2.5mn tpa is scheduled online in 2013, following the completion of Borouge 3.

Source: Business Wire